Advice on using Home Equity Line of Credit to Invest

[Robert Hidrogo]

My wife and I have a home that we have lived in for 12+ years and would like to invest. My idea is to take out a home equity loan line of credit, buy a pre-fab home that I can place on a concrete slab (not a mobile home); place it on my land that is already payed for, and rent it out to pay for the home equity loan line of credit. I would then buy a 3rd home that I would like to finance through my credit union while renting out our home that we have lived in 12+ years. Here are the numbers: We bought our home for $139k, which is now down to $117k, the home is worth between $180-$200k, take out the 80% for the home equity loan to buy the pre-fab home and to install the plumbing, electrical and septic. Buy my 3rd home and make it my permanent residence and rent out the other 2 homes. If anyone could let me know if this would be a good idea or not or if I am missing something.