There's too many variables of safety for me to consider it.Thank you both for your input!

Price is only one variable - look at the entire picture. 

I used Hanscom Credit Union and got access to a Variable, 90% LTV, 10 yr IO, 30yr term HELOC with a current rate of 9.25%.

I don't have them because I don't need them, but I know those are big variables as it relates to the premium.At the current moment, most of my home values are between $150-200k and I pay about $1,000-1,200 per property per year.

It's a tough decision for us with lots of options and variables in the mix. 

As mentioned, there are a lot of variables, be sure not to advance any fees to broker ahead of closing.

Rates are high, are variable and lines may be truncated or reduced if the market declines.  

In this interest-rate environment, it is possible for the variable rate HELOC rate to exceed the rate of your first mortgage. 

HELOC's (to my knowledge, lenders feel free to chime in) will only work on your primary residence, so if your dream home has the equity to do it, then by all means it's a great option, BUT, most HELOC's have a variable rate (aka 7-8%) right now, so if you do that HELOC, then whatever you use your cash to invest in better yield you a % above that for it to be worth it.

How did you arrive at your variable costs?