Wanted to pass along this link to help you:Apartment Syndications And How To Tap Into Huge Passive Income ProfitsGood luck I guess I just don't see why I have to give debt AND equity.

I was able to pull out $125k of equity, but now that my loan officer knows I don't have W-2 employment I can not acquire anymore portfolio commercial loans.  

That says to me that they (probably) lived high on the hog, and when the bill came in she didn't lose her job and couldn't pay, they just had no equity left (if they ever had any) and went on down the road. 

I have two investment properties, cash on hand to pay one off, and combined equity of about 150k between the two.

Blackstone Group is the largest private equity company in the world.

Now that I’m receiving cash flow from it would it be smart to get a equIty loan or equity lIne to buy another property.

Our equity in the rental is $100k maybe a bit more if we make some updates.

I suspect that as part of what is considered in doing a full blown appraisal, your overall risk profile and DSR (Debt Service Ratio) will be looked at.You have to be careful about your assumptions and ensure that the stuff you're adding to your portfolio is capable of producing the income where that looks favorable, especially if you don't have other earnings (or much of them). 

If they are motivated and go for the flip number if not as much or not as much equity then go for the rental number (160k).

It's likely that they will have no equity in the home, especially if we are in the middle of a recession and their original 15 or 20% deposit has been eaten up by market depressions.