HELOC on my father's home?

[John Singer]

Hello all, I am new to RE investing, but currently seeking my first multi-family deal in CA. I am young, have my sales license, and a good paying job, but insufficient capital needed to finance in any other method than FHA. I have been thinking of different ways to fund my deal, and an opportunity I have identified is the equity in my dad's home in southern CA. He has lived there for ~16 years, purchased it for $265K, and it is now worth just shy of $400K. I had asked him recently if I could borrow against his equity, and he is fairly ok with the idea overall. I just had a few questions regarding this idea... Will a lender allow me to take out a HELOC although the property is his and my name is not on the deed? Would this effect him in any unforeseen way? Is there any limitations on how they can normally be used (i.e.: his home is in SoCal, can I purchase in NorCal)? Am I still eligible for first time home buyer tax incentives if I purchase conventionally later on? Is this an overall good idea? We are both financially stable,have nearly no debt, good incomes and credit scores (mine: ~775, his: 800+). Please advise. Any help will be appreciated. Thanks in advance, John S.