Py down house vs rentals / Use of line of credit

[Mark K.]

I have briefly bounced this idea off of Tim but was looking for feedback on which route will yield quickest results. We owe $187K on our house at 3.25 % on 15 yr fixed loan. We have a line of credit of $91500 which we can use at 4.6 % fixed for 3 yrs then goes to 6%. We owe approx. $400K on 5 of our rental properties. The other three are paid off.  All rentals are on 30 yr fixed loans at 4.57-5% interest. Should we pay off the house first and then use the approx. $1300 per month to pay the rentals-one at a time starting with highest rate or start paying on rentals first with highest rate one first? Also would it save more money to pay a chunk at a time on each rental or pay one off at a time to create the "snowball" effect?  Would using the line of credit to start this be smart or not as I have heard the interest on that loan would not be tax deductible any longer unless used to improve your primary residence? I feel we are in a good position but could make a big wrong decision quite easily considering the amount of debt involved.   I believe the interest  on our mortgage is deductible at the same rate as the rentals? Also would it make sense to do a cash out refi on our house instead of using the line of credit as it might make the interest then deductible?  We also have $337K available at 6% from refinancing the mortgages on our 3 paid properties. I feel I am financially smart but all of this makes for alot of possibilities with big consequences if not done smartly. Thanks!