should I HELO or partner for a BRRRR cash offer

[Mitch Black]

I have a fair amount of equity in a previous rental. Have held it for a loooong time. I am beginning to focus my attention on REI. Better late than never. Anyway, I am looking at doing my first BRRRR and have considered two paths to getting the 'B' done with a cash offer:

1)  take a HELO out of my existing rental to supplement the cash I have on hand for the full amount of purchase

2)  partner with someone to supplement the cash I have on hand for the full amount of purchase

My concern is, even though I have excellent credit, will using the HELO for the purchase hinder my being able to complete the refi on this BRRRR?

Any insight/experience is appreciated.  Thanks!