Financing question help

[Melissa M Blackwell]

What's the best way to use the equity in my house to purchase my first investment property.  I have about $300k of equity and have about $200k in a 401k about $10k in cash.  Im looking for long term rental in my home state but willing to go out of atate.   I'm thinking I use the equity for the down then a conventional loan for the remainder.  Just not sure the best way to proceed. 

[Patrick Roberts]

Cashout refi or 2nd mortgage on your primary - it will depend on the note rate and remaining balance on the current loan. Leave the 401k alone. I would not use a revolver for a permanent downpayment.