How to buy rentals from HELOC

[Ade Wilson]

Looking for outside opinions on the best move I should make. I'm 26 just purchased my first home in November of last year. Bought a 5 bedroom 3 bathroom duplex less than 1 mile from new LA Rams stadium. I got a killer deal from a family member so looking to take advantage of the opportunity. My house is currently worth a little over 1 million and my mortgage balance is 327k. Im renting 1 unit out and that covers my mortgage plus gives me a extra $300 every month. I live in the other unit for free but thinking about renting it out for extra rental income. I got a killer deal haha... I'm thinking about taking a 500k HELOC to purchase rental properties but the LA market is so high right now I don't know if I should pay straight cash or finance homes in the Los Angeles area. Any experts on REI that can share some wisdom?