@Matthew K. technically NO. You can't get a Home Equity Line of Credit (HELOC) on a property that is not your home.
Can you get a credit line using a rental as equity, absolutely yes. Just don't go asking for a HELOC. Not everyone will do them but you just have to keep looking. You will have the best luck with smaller community banks. Presuming you already have a mortgage on the property you may run in to loan to value issues.
Originally posted by @Matthew K. :
I currently have a house on the market that I previously lived in for the past five years. I want to rent it, cashflow the property, and take a HELOC out to do further investment. Is it possible to get a HELOC on a rental? I've been getting a little pushback.
You can get a loan that is technically same as HELOC just with different name. HELOC name mostly related to loan related to your primary or second residence.
As mentioned above, you can just get LOC on the equity you have one the house.
@Matthew K. Yes, you can. COnditions might be a little less favorable than owner-occupied, but it's available. Be aware that the new tax code restricts the use of the money to real estate related uses, like renovation, buying other real estates, etc. If you use it to buy a car or things like that interest is no longer deductible. I am not a CPA, but I read about this intensively to better understand what the rules are and got confirmation by multiple CPA's, including some on BP podcasts