Home Equity Line Of Credit ?

[Heaven Burleson]

Hello, I'm Heaven and I'm new to bigger pockets.

So, my current situation is I own a house and I don't owe anything on it. I was thinking about taking out a HELOC on my house investing it into a home I see potential in. This would be a big step for me and I'm nervous. Some background is I'm 21 my grandma put the house in my name when she paid if off incase she dies unexpectedly. With that said I pay yearly taxes and monthly insurance. Now, I still live here with her so it's just us. I just got a full time job beginning of this year only making 36K. I'm mostly worried about the interest rate changing on the HELOC and not being about to afford it and go under water. Whole idea of this, is this being an investment property. Asking price is $106,000 thinking $30,000 for upgrades for this home. I could see it sell for $200K or more. Is there other options besides HELOC that would be wiser, more affordable, and not a fluctuating interest rates?? Or, is this all out of my price range?