HELOC or Mortgage for rental property
Hello, I would like to buy a rental property. I have enough equity in my primary. Should I go for the HELOC or Traditional mortgage? I believe interest rates are better with heloc. But If I don't go for the traditional mortgage and has no mortgage interest for the rental property, how do I minimize the tax on my rental income? I will end up with large tax bill for my rental income defeating the purpose. Please advise. I don't think I can take the real estate depreciation because of the income limit.
Appreciate the help.