This is my current situation, can I get a HELOC?

[Account Closed]

I currently own and rent out a SFH to great tenants in New Orleans worth approximately 270K. I rent a small apartment in New Orleans b/c financially it makes more sense. I owe 118K on first mortgage and 18K on second mortgage, home equity loan. I applied for a HELOC for 60K to at Capital One 360, owner of second mortgage. They are aware that I am basically converting this HE Loan into a HELOC. They pulled my credit score, which was over 800, well above what they require, and I provided all the documentation they requested. This is a fairly straightforward process, or so I thought. I just got a letter back saying my loan was denied. I was planning on paying off the 18K here shortly and using this money to help purchase a second investment property. No one from Capital One 360 will call me back, and I have no idea what the problem could be.

Can you take out a HELOC on an investment property? That seems like a silly question, but I thought you could? Does it matter that this home is not my primary residence? I didn't think this was a problem? Does anyone else see a reason why, based on the info I provided, my loan would be denied?

Thank you!!

Scott