All Forum Posts by: John L.

I'm looking to purchase a rental property and one financing option would be to do a cash-out refinance of my primary home and use those funds to buy the property.

In this scenario, can I deduct the mortgage interest on the cash-out portion as a rental expense? Any other things to consider?

I don't mind doing it myself and I would actually prefer it like that. I could have a piece of plywood nailed to a wood box frame installed in the opening, to hold it in place. Paint it in the same color of the fireplace, so it should look quite neat overall. Also, by using screws, it should be pretty easy to take it down in the future.

Now I'm just thinking if there would be any legal, insurance, etc, issues with this.

I recently had a renter ask me if it's possible to board up the fireplace, as it will not be used. SFH, wood fireplace. They would like to put some furniture in front of it. Should I have any concerns?