Renting Home with HELOC on it

[Clayton Maxon]

Hey BP,

My wife and I plan on renting out our personal residence within the next year after we move. Has anyone had the situation where they got a HELOC on their personal residence and then rented it out shortly after? Is there a clause in the HELOC that says you must live in the residence for the entire or partial duration of the line?

For context, we are considering the HELOC for renovation to our personal residence to get it ready to rent, and possibly also to have another source of liquidity for other deals. Even with the higher rates today, it will have a better rate than the personal LOC that we have currently.

Thanks!