Updated over 13 years ago on .
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How long do I have to finance
I purchased a rental property (duplex) over 3 years ago and completed renovations almost 2.5 years ago. The purchase and repairs were all paid with cash. If I finance (cash out) the property now, will I be able to deduct the interest? Is there a set time period to finance a property and be able to deduct the interest? The loan amount will be less than my basis.