Deductability - Refinance one rental to remodel another rental

[Gil Abdal]

Hi all:  I own 2 rental properties one has no mortgage balance. I plan to take a new 200-K 1st mortgage on the fully paid rental  property to renovate that subject property AND also renovate / repair another rental property.  Can I fully deduct all mortgage interest on Schedule E as rental expense against the subject property??

thanks gil