Real estate equity to as business seed capital

We've all heard about using entrepreneurship funds to invest in real estate. Have you ever considered using real estate investing as a means to raise money for unrelated entrepreneurial ventures?

For example, imagine that you need $100k to purchase a franchise. Instead of asking the bank for a business loan, you could intentionally invest in properties with at least $100k in equity, and apply a HELOC. I imagine that this would be a safer option because you could A) have tenants help to service your debt B) have up to a 30 year payback period C) write off interest debt D) depreciate the property E) enjoy lower interest rates.

Am I missing something? This seems like it could be the way to go.