I recently took out a HELOC to purchase a residential rental property. The loan is going to be used only for this purpose, as well as to fix things in the property such as flooring, etc.
What points can I deduct from the HELOC if any.
It includes Title fees, which normally would be depreciated however those fees were for MY home, not the rental home, so curious if that becomes an expense, or if I can recover it at all?
The main part of the costs were that, and recording fees at the county.