Use of HELOC Funds as a Real Estate Investment Tool

[Frank Costa]

What rules/restrictions are there regarding the use of a HELOC for the down payment of an investment property? What if I where to find a SFH that's a viable "read to go" long term rental (no BRRRR strategy required), can I use HELOC funds for the down payment when I approach a traditional lender to finance the deal?

Assumptions: HELOC on primary residence, excellent credit, full time employment, 20% down (HELOC funds), 80% balance in a 30yr fixed.

Thanks, Frank