Use HELOC to scoop up properties?

[Rob Bianco]

Coronavirus closed my business and I can't really spend what money I have in my bank account at the moment. However, I own all my rentals in cash and my buddy recommended I open a HELOC on the units so I can get the bank to write a check when a good opportunity comes around so I can scoop up some extra properties - then 6 months later refinance and pay back the HELOC.

Wondering if anyone has any insight into this strategy and what kind of risk I'm opening myself up to especially moving into the months ahead.

Thanks