HELOC to fund new purchase

[Mike Provencher]

I have a duplex and live in one side, currently renting the other...would like to find another place to move to so I can rent both sides. 

Should I do a HELOC to get at my equity? Seems like it would be much better than a cash-out re-fi.

Any red flags doing that that would keep me out of getting a new place? Obviously it would affect my DTI ratio, but I think I'm good there.

Thanks, 
Mike