Cash out refinancing a rental to buy and rehab another rental

[John Garner]

I'm interested in finding out what tax deductions will be allowable if I do a cash out refi on a rental property to purchase and rehab another rental property. Can I deduct the interest? If so, on Schedule E? Is there a limit?

I've seen a ton of posts with folks asking about cash out refis on primary residences to buy a rental but my situation is different.

Best regards,

John