Home Equity Loan and Occupancy rules

[Justin K.]

Hey everyone, 

A problem that I run into occasionally when searching for investment loans is the tenant/owner occupied ratio in condos. 
I'm curious if there's a way around this by doing a home equity loan to finance the purchase of a new property? It follows the BRRR in a way, that is, get a loan using a paid off property as collateral, and then buy a property which you cannot get with a typical investment loan due to the rules of occupancy.

The issue I see with this is that if you refinance your property, then the financier would want to see what you'll be using the money for. Or are they typically not concerned with this? 

Any wisdom is greatly appreciated,

Justin