Best HELOC for down payment

[Bobby Dini]

I want to get a HELOC on my primary residence in which I have about $100K in equity in to use for a down payment of $30,000 on a duplex that is rent ready and won't require much work as it is currently rented out. Property will cash flow nicely with about a $1000 PITI payment monthly and $2000/month in rent. My question is what are some factors to look for in a HELOC for a buy and hold rental like this? I've talked to two banks already, both are coming in at about 6.1% interest with the ability to convert to fixed rate at any time. I found an interest only loan for the initial draw period which seems appealing as I could add some cosmetic value over the first year and cash out refi to repay my $30,000 HELOC.Any advice for shopping good HELOCs is appreciated.