Pullling money out of fully paid property

[Tony C.]

I'm looking to pull money out of a mortgage-less property and use the money for other real estate investments. What's the most cost effective and tax beneficial way to do this? How should I classify this property (primary, investment, second home?) I would like to pull the maximum amount out while minimizing the cost. Should I go to a portfolio lender, conventional financing, use FHA loan financing (is this possible for a home you already fully own?), or some other type of financing? Assume I've been living in the home for > 6 months and will either continue living in it or rent it out.

Thanks!