Again, the agreement was between the bank and her... not me.If the land owner wants to receive the tax deduction, then they should refinance the outstanding balance and have the loan in their name.

But I think the fact that it may be more difficult to find a contractor or builder to have time for you may impact a premium you will pay for their service in a hot market..Land and home values go hand in hand.

you would probably then be able to collect a premium rent again and your lease terms will sync with the summer so next time shouldn't be as difficult to lease.

Keep in mind that you do not want to keep this HELOC balance going for a long time. 

Being a landlord can be like a second job....a difficult job!

On top of that, $15,000 of the remaining $17,000 ($22,000 − $5,000*) balance of the expenditures can be deducted.

@Frank Crianza The BEST advice/tips/tricks I can give - I have already given ... research is one thing, but obtaining the financing is another - I have a boatload of assets and a ton of net worth but obtaining "good" financing is a challenge without a paycheck from an employer ... you can find short term financing with higher rates and costs based on the value of the property you are buying, but you will find it difficult to obtain good long term financing for long term long term investments while self employed

In this market adding properties is difficult; I am finding MF is way over priced and not enough CF, at least not for me.

Pay 20% down and then the remaining 80% is paid monthly at x% interest rate amortized over 30 years with a balloon payment in x number of years for the balance.  

Some of these sellers we work with are going through a lot of difficult personal situations so it is very important to be understanding of their situation and not always be pushing for a sale.