We are looking to add value for our owners and tenants which translates to lower prices and speedier service. 

The existence of an active business could alter the nature of this transaction.

The occupancy status of said property also does not alter the type of loan.

I'm Val, I'm a full-time therapist, part-time photographer and everyday creative looking to translate my skill set into house flipping and landlording.

So 30k in interest payments on a primary would only net most people an $800 tax deduction since they would have already got the standard deduction by default, where as 30k in rental interest would translate into 30k in deductions.This means that for an awful lot of people, they effectively don't get to deduct the interest on their primary.Keeping the loan on your rentals, while getting rid of the loan on your primary also helps from an asset protection side of things. 

This simplicity can make assuming a mortgage an attractive option for sellers looking to transfer property without altering their tax circumstances.

Depending on if this is your primary residence or not can alter the strategy but that's the gist.

@Ronald Allen Barney That is exactly why you do "alterations and repairs" no need for a GC as many are terrible business people.

Unfortunately, "traffic and popularity" don't translate well into cash flow and cash-on-cash return.Don't get so caught up in the excitement of "doing" a deal that you miss actually "getting" a good deal. 

Changing the method of deduction might slightly alter your taxable income, leading to a small increase in taxes.Bottom Line: The slight increase in taxes could be due to how different deductions interact with your overall tax situation, even if the total deduction amount remains the same.2.Is It Worth Amending Previous Years’ Taxes to Change Purchases from Depreciation to Expenses to Avoid Future Depreciation Recapture?