I just opened a HELOC and ready to purchase with cash.

I'm considering them for a HELOC to help fund my first deal.

Have you considered a HELOC

*The other option is do a HELOC on a property you own or a personal line from a bank. 

No other product can allow one to do this (HELOCs are similar in a sense but have drawbacks and limitations that whole life does not).I can tell you misunderstand the underlying mechanics of IBC yourself in how you mention credit (you're not alone!)

The lenders I work with for HELOCs and HELOANs underwrite them like any other loan. 

Then I immediately applied for a HELOC to pay off the private lender and purchase another property.

Secure funding for your flip through options like hard money loans, private investors, or leveraging your home's equity with a HELOC.

Mostly my question is: can I pull a HELOC on an investment property or is there some sort of rules that only let you pull a HELOC on your primary residence?

Hi Ismael,You can get a HELOC on the 2nd SFH (your PRIMARY) assuming you qualify and there's equity to pull.