Tapping in to my parents home equity ???

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My parents have had their house paid off for over 15+ years already. The house is worth about $250k. Is it a good idea to finance the house to tap into the equity? (using the money to invest in more real estate).

My concern is that it will start a monthly payment to repay back the loan after not have to pay a mortgage for over 15+ years. I’m trying to understand all pros and cons, would love any insight!!