Can You Do HELOC on Rental?

[Bob Asad]

If my primary residence has $500k HELOC, could I use it to purchase a 2nd primary residence and rent out the first one?

And if so, as I'm paying down the original primary residence HELOC, in the future, can I use it again to purchase a rental investment? (Given that my new primary residence also has the equity from first residence HELOC)

In other words, when your original primary residence becomes a rental, can you still do a HELOC?

Let me know if this makes sense. Thanks