Using Equity in Primary Residence to start REI?

[Thomas V.]

Hi, I'm just getting started in REI buy, hold, rent for passive income. I already own two homes both for primary and personal use. I only have about 20% equity in my personal vacation home but I'm about to pay off my primary residence home and assume at least 400K in equity. I was thinking about getting a HELOC on my primary maybe up to around $150K to either use as down payments on possibly up to 3 properties. Looking for some feedback on whether this is a good idea. My thought is these could be used for 20%-30% down payments on the properties while also giving me a tax right off on my primary. Looking for some feedback on pros, cons, people who have done the same. I little worried that after I take the HELOC I will have trouble qualifying for the mortgages on each.