.- Should I take out a HELOC, rent my current home, and use the HELOC as a down payment on my next primary residency?

I'm on a similar boat, my bank is asking for a 720 to do a HELOC that I want to use for a flip. 

Can't take out a HELOC (150k in equity) again because the wife wont let me and the income thing discussed earlier.

I have an 11 unit apartment building located  in a rent control area on Los Angeles worth about 1.7 mil  we owe 200k at 3 percent to family member, and We have another property worth about 525 k there is a Heloc of 365 k, and on our primary residence we owe about 565 k and it's worth about 1.7 mil .

I have an 11 unit apartment building located in a rent control area on Los Angeles worth about 1.7 mil we owe 200k at 3 percent to family member, and We have another property worth about 525 k there is a Heloc of 365 k, and on our primary residence we owe about 565 k and it's worth about 1.7 mil .My question is which would be the best loan to pay off first.

The reason I say this is because if you hold onto the property for a little while, you could very quickly pull out up to $80K from it by applying for a HELOC (Home Equity Line of Credit).  

Currently rented for $750/mo.Financed @ 20% down (using my HELOC) for 20 yrs. @ $285/mo.Taxes & Ins = 150/moAssuming 8.33% vacancy and 10% maintenance = $131/moMy fancy spreadsheet gives NOI = $5616/yr and CAP RATE @ 12%My personal calcs show $750-285-150-131 = $184/mo.  

Considering a HELOC on primary residence for further real estate investment purposes...would this affect a conventional property loan application since it is "secured debt" or mostly just affect credit scores?

I use 25% down conventional loans so I don't need a heloc to get the equity back because I never put it in.  

If so, you could quickly get a HELOC or Business LOC for the amount needed and then get permanent financing after closing.