Cashout Refi before selling Rental Propertt

[Oscar Vargas]

Can I cashout refinance a rental property before selling it? Will I pay capital tax gain for the money received after all debt is paid or will I avoid capital tax gain all together. Property has been own for the past 15 years as a rental property. If I sell before refinance my profit will be close to 300k. If I refinance before selling and my loan to value at 70 or 80 percent will lower my gains at closing.

Thanks for your input.

[Mark Creason]

@Oscar Vargas

The refinance has nothing to do with profitability. I would strongly suggest talking to an accountant who specializes in REI. You might want to talk to a QI too.