Newsflash: HELOC on investment property?

Hello and thanks for your help in advance. I own a house that I rent out (in 4th year of doing so) that is worth roughly $120k. It has a mortgage with $65k remaining. Rental is cash flow positive.I would like to pull out about $30k in equity from the property to use with some cash that I have saved up as a 20% down payment on a primary residence, but have some questions:Can you do an 80% HELOC on an investment property?Do HELOCs exist that do not require a minimum balance (i.e. I want the ability to receive advances, then pay it down to $0)? I expect to receive a windfall after buying the primary residence and selling my current house which I will use to pay down the HELOC.Do HELOCs have a prepayment fee or can I pay it down whenever?Suggestions on where to look for an HELOC?Any issues with my plan?Thanks again!

Read more at https://www.reddit.com/r/RealEstate/comments/6l2dld/heloc_on_investment_property/?utm_source=ifttt

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