How to Leverage Free and Clear Property

[Tony Ma]

My mom has a primary residence in CA that is owned free and clear. It is current titled under my brother's name, but her intent is for the home to be left to me and my brothers. We are interested in purchasing a rental property together, but would like some advice for how to use this property for leverage. I'm thinking about changing the title to tenants in common, then getting a HELOC to fund the down payment, then getting a fixed rate mortgage on the rental and holding that property as tenants in common. Am I headed down a bad road? Any advice on how to do this would be appreciated!