HELOC on Primary Home for Multiple Down Payments

[Matt Bristow]

I have 2 STR's in Rehoboth Beach, DE and have the itch to purchase some LTRs in the suburbs outside of Philly. Currently have the ability to open a HELOC on my primary for $250k. Does it make sense to utilize the HELOC for multiple down payments on LTRs assuming the properties will cashflow? I have the ability to lock the HELOC into a 15 year prin+int payment schedule immediately at 4.34%. Should be able to cash flow around $300/mo per LTR using this method. Drawbacks? Does this seem like a good strategy?