Experience with HELOC?

[Benjamin Manibog]

I currently own a home in Riverside County, California (East of Los Angeles). My house is appraised at $450k and I owe $240K currently. I was reading about doing a HELOC in order to make a down payment on another property. I was considering only using 25% of my equity to be safe. Thoughts?

I am considering purchasing a multi family property (not identified yet) in the Los Angeles area near the University of Southern California (USC) or in South LA, and renting out the property. I will not be house hacking. 

Can someone with experience using a HELOC let me know if it was beneficial or if anyone had a negative experience?

I really appreciate everyone's time and feedback.