If you have a ton of equity but you know you can put the money to work right away and earn MORE than the additional costs to your current mortgage payment then go with a Cash-out, but its more costly for the closing fees and will leave some more money locked up in equity because the refi is usually a lower LTV (like 70-75%). 

If he has $2 million in equity, how much could he get a loan for without putting anything down?

@Yakir Aloni not sure what you're askingsimple numbers - you buy a property for 100K and spend 50K fixing it up - it's worth 200Kyou refinance 70% outyou get $140K minus fees - so $135Kyou now have a mortgage for $140Kyou also have $60K in equity

Sure, someone came in and said it's work 15K more than I paid, but does that mean I can go to a bank and re-finance in 6 months and show them that paperwork to get 15k in equity? 

We have about $150,000 in equity and the plan is to build a 4 plex with our FHA loan.

You'll have a cash balance of $100 for example and total $100,100 in equity).

I have a performing STR in the Florida Panhandle that has around $100k in equity I’d like to tap into.

I would not suggest looking into establishing LLCs and asset protection strategies till you have at least $100-300K in equity (!)

I’ve got 2 houses: House A has $550k in equity and $200k left on the mortage, house B has $800k in equity and is completely paid off.

Fast forward 5 years, I gained 50% in equity (forced equity & appreciation), 2x the cash flow.Fast forward 7 years, 2x equity, cash flows $700/unit.I unlocked the equity in a HELOC and BRRRRed.