HELOC to Purchase Investment Property

[Cedrick Coleman]

I am in the process of having my dad's first home placed in my name. I will be on the deed, and this will be considered my 2nd property. It is completely paid off and had an appraised value of$150K. How can I leverage this property to purchase my first investment property? What amount if any can I take from this home? Can I use a HELOC or other option to buy and find a fixer- upper with this amount particularly in the Metro-Atlanta area? Any advice, wisdom, and knowledge will be greatly appreciated. Thanks! Cedrick