Using a HELOC to househack

[Chad Davis]

My wife and I are looking to get a duplex or up to a fourplex in Utah county, Davis county, or Weber county. We are going to use a HELOC to buy a place, we are doing a FHA loan so we are only putting 3.5% down. We are then going to rent out the upstairs of our current residence (we already rent the basement out) and then move into the new property. Is this a good idea as long as we cash flow? Or are there any inherent risks to this strategy? Any advice would be appreciated! Thanks!

Chad