First home to Investment property

[Jose Luis G.]

Hi, I was wondering what happens after 1 year when you have a first home mortgage on your property and you want to convert to a rental property. Do you need to refinance the first home loan and take out a new loan for investment property or do you just keep the original first home loan given that you've satisfied the 1 year living requirement? 

Also, can you claim back the depreciation from your first home 1 year when you convert to a rental or will you lose the depreciation benefit for that year? 

It looks like buying as investment property for someone willing to put 20% down makes more sense given that the depreciation benefit is more than the difference in interest rate but trying to see if I'm missing something