Heloc for down payment

[Vincent Q.]

Hello all,

Im a new Investor, and need some advice. Please help!

I am looking to obtain a heloc on my single family investment property and use the funds for a down payment on another investment property to rent out.

Is this a practical strategy?

Heloc for down payment and closing costs. Then get a Tennant in place, then refinance and pay the heloc back.

Can you please provide and suggestions, comments, and feedback. It will greatly be appreciated.

Thank you!