Re-financing or Line of Credit secured by property

[David P.]

I am about to refinance a few properties and have had several discussions with investors regarding leveraging the money in these properties. One of the investors indicated that I could maximizing my leverage point; taking a HELOC on my personal residence @ 80% LTV paying off one of my properties and then taking out a line of credit secured on this free and clear property @ 80% LTV and rolling to other other properties. Besides the cost of doing it this way and the leverage point/interest rate being higher - what are the other pro/cons to doing this strategies?