Hello RWRDfamily,
Thank you for participating in this Ask the Experts event. As to your question, the only thing that could be deductible from your HELOC would be the interest you pay on that loan, not the whole loan itself. Because you used the HELOC to purchase the rental property, the interest expense would be an expense for the rental property itself, not for you personally if you itemize your deductions.
I hope that helps.
