Carl
Level 15

Investors & landlords

I get the impression that you're wanting me (as well as others in this forum) to tell you what you want to hear.
Did your financial advisor also tell you that if you are audited, you are 100% responsible for the results of said audit? The financial advisor may represent you in an audit, but they have absolutely no liability what-so-ever. You agreed to that in your written and signed agreement with said financial advisor. On top of that, I do not know of very many financial advisors who are CPAs and registered with the IRS as an Enrolled Agent. Most of the financial advisors I know of aren't licensed tax preparers, meaning they have no formal training in tax law anywhere near the depth an enrolled agent does, and that most CPA's do.
Now I myself am not an FA, CPA, or EA and most certainly do not claim to be a tax expert by any stretch of the imagination. But I can tell you this for a proven fact. When it comes to dealing with the IRS, if it's not in writing, then it doesn't matter how much you threated or scream. It just flat out did not occur.
Most likely, trying to claim a loan not secured by rental property, as being a valid deduction of mortgage interest against said rental property, will come back to bite you a few years down the road. Then the accumulated interest, fines and penalties on the back-taxes you will owe will give you reason to seek the services of another financial advisor.
Do note that money spent on rental property for things like repairs, maintenance and even property improvements is something that can be and should be claimed against the rental income. It doesn't matter where that money came from either. Be it from the rental income, your W-2 job, or even a home equity loan on your primary residence either.