HELOC to Kickstart REI Journey?

[Rob Sawyer]

I have been learning REI for the last couple of years and am now ready to get into the game.

I am looking at using 65% of the equity in a $300K+ lakefront vacation home that I 50/50 co-own with a health compromised relative for a few different purposes. 1) Reset all higher interest outstanding debt. 2) Have a ready fund source should health concerns require significant funds. 3) Use as a reusable source of REI funds for down payments to acquire cash flow properties.

What are the things I should watch out for as well as make sure I take advantage of in using this approach?

Thanks for your help!