Investing in second property with HELOC

[Sarkis Gezalyan]

Hello all , 

Newbie here trying to understand how many mortgages I will be stuck with. Let's say I have a million dollar home, with 500k equity in it. I would like to pull this out with a HELOC and put it as my down payment for a second home for a buy and hold strategy. If this HELOC matures in 10 years, will I be stuck paying three mortgages? One for my first house, one for the HELOC converting into a regular mortgage, and one for the second investment property?