Hesitant to get a HELOC

[Spenser Murphy]

I hope this is the right forum for this question. I'm just starting out in REI. I'm looking for solutions to acquire start up capital. My father is the only person I know with significant cash. He'd help me, but he plans to retire in 18 months. I created a lean budget to expedite saving towards a down payment. However, I can't qualify for the loan amount I need. I pay child support for 3 children. I own my house free and clear and learned what a HELOC is. I know a closing is basically a cash purchase. What are your experiences with them? I'm nervous to borrow against my home. Thanks