Cash Out Refi Tax Situation
Hi all,
Fairly new to posting here. Wanted to get some feedback for using a cash out refi on two residential properties to fund the downpayment for a multifamily purchase. I also have access to another moderate amount of cash to use (and other funds retirement etc that could be used if it made sense) but would like to primarily use the equity as the source plus some cash for funding. The total equity in the two is approximately 1.1 to 1.2 million. The concern is that I would need to be able to deduct the interest from the cash out refi when funding the multifamily and I'm not sure how to go about doing that. Thanks in advance for any guidance.