How do I use a HELOC to invest in Real Estate?

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I currently am approved through my lender for a Home Equity Line of Credit on my property. I have two big questions on how to move forward with the HELOC.

1. What is the best investment to shift my freed up capital into? Is is a rental property? A fund/syndication?

2. Once i take some of the equity from my house, what implications does it have on my credit score/ my ability to buy another property down the road?