SHOULD I DO A LINE OF CREDIT ON MY RENTAL?

[Michael Cortez]

Hi all, newbie here with a question. I took a HELOC on my primary residence that went towards purchasing my first rental. I'm renting it out for $1400 and my mortgage is $836. From that cashflow $215 is used to pay the HELOC loan. The rental has about 40-50K equity (i closed on it end of January 2022). Should i pull out some of that equity to put towards the next investment property or am i leveraging myself too much? What are your thoughts?

TIA