I am considering LOE as a genuine option for a least a couple of years whilst I contemplate a career change or full time property investing and development.
In my case after liquidating Investments I will have
PPR value $1600K
Debt of $1000K, but offset with separate account of $900K. So only paying interest on $100K (plus any LOE future drawings.)  Hence I can draw out of this account as I wish up the $900K – before I need to even talk to the bank.

If my PPR grows at 5% PA, and I draw 80% of the equity growth each year, pay the interest cost each year, I can enjoy about
$55K per annum after paying the interest (say 8%). If property grows at 7%- I can enjoy about $80K.

So provided I never take more than the Capital Growth, my equity still increases. In good growth years I can comfortably take more, and in bad- less.

Not a strategy for long term retirement, but defintely an option for 4-6 years whilst I add nuetral or positive properties to the portfolio. I can choose to work a regular job to supplement if I wish.

The magic of excel will keep all factors in check and monitor the growing debt, and equity. The key for my situation is not having to rely on the bank to give me a line of credit for many years due to the offset facility