Thanks Michael, what about the increase to my interest expense -- i still get that as a reduction to my rental income @ 100%, correct? And does it matter what i do with the money? I know if i did improve the property, like maybe add a pool for 50k, I would get to increase my basis by that amount, but what if i do nothing with the money? That's really the main question, does it matter what i do with the money from a tax perspective (notwithstanding the tax benefits of putting it right back into improving the actual rental property you just refinanced)
