Thank you for your reply but I am still confused. The rental property doesn't have an outstanding balance which mean I won't be getting any interest deducted right now. So, should I take a loan against it now to create the mortgage to have a write off.
I took a loan against my current residence 3 years ago to acquire the property and now I'm paying for the rental property with my current residence. So the rental property is paid off but I'm paying more mortgage on my residence. I would like to pay off my current resident and have the Lien again the rental property. Does that make sense to do? I believe I will benefit more am I right?
