Advice on house that was given to me.

[Mark Vaugh]

So I been saving money to buy a rental property but before I jump in and spend my own money I wanted to check for other options.

Recently I've learned about HELOC, done some reading so I understand the concept of it.

So here is the deal, right now I own one property that was given to me by my father, coming up on my 2nd year of owning it. Could I get a HELCO on the home or is there a time limit that I Must own the home before I can get one. House is paid for, nothing is owed on it. Also I have good credit.

Wanted to check and see what other's thoughts on this and what way would be the best for me to move forward on owning rental property. 

Thanks.