Tax Question Regarding Borrowed Money

[Shahn Sattar]

Hello BP,

I am looking to buy my first investment deal and I had a quick tax question for anyone that might be able to help. I have been pre-approved through the traditional means (20-25% down) but I have been recently offered, by someone I trust, to borrow money from them using money they will pull out of a HELOC on their primary residence. They basically offered to be "the bank" in a sense, which would allow me to buy a BRRRR type property a little easier, and maybe for less seeing as how I could go in with an all cash offer.

My question is this, would I be able to write this type of financing off on my taxes? While technically it would be an expense, the person I am borrowing it from wouldn't be claiming anything on their taxes or providing me any kind of tax forms. In a perfect world it would only be for 6-12 months at a time and then i'd pay it back when I was able to refi. I'm just not sure how exactly this would work in a tax sense, if at all. 

Any help/suggestions would be greatly appreciated!!

[Basit Siddiqi]

@Shahn Sattar

You can't pay someone else's mortgage(that you don't originally have a responsibility of paying) and get a mortgage interest/real estate tax deduction.