Tax Ramifications of Parents Doing a HELOC or Cash-out Refi for me?

[Joe Wall]

I am really struggling to buy a duplex with conventional loans in my area. I've been beaten out by investors with cash in my area. Since I've been looking for almost 1 year, and put in 5 offers, my parents want me to get a nice place.

Thus, they were wondering if they did a home equity line or a cash out refi on their primary residence or investment properties, and I took out a loan to pay them back what are the tax ramifications for them? Thus, my loan would pay them back but I do not own any real estate or properties so they HELOC would be in their name. How would this affect their finances? Could they gift me or do anything to avoid negative effects for tax purposes for opening a cash-out refi/HELOC? Any advice from any CPAs/accountants