HELOC for down payment

[Michael H.]

My personal home is paid off and I am looking to obtain more rental property. I have a HELOC (I am going to switch back to an interest only loan) but all of the bankers I have talked to say I can not use it as a down payment for another mortgage to obtain another buy and hold.

I have used an interest only loan to purchase, remodel, and sell a flip.

What do I need to know?

TIA