Cash out Refi on Current Home for Investment Property

[Jonah Kubath]

I want to buy my first rental property.  I decided to call a CPA in the Washington DC area and he informed me that cannot claim the deductions on mortgage interest when you do a cash out refi.  He also said that the money taken out is supposed to be used on same property since that is the asset backing the loan.  I thought that Brandon has used the Cash out Refi process to re-purpose the value gained on a property to purchase a new one.

Can someone help me understand this, a better way to do the cash out refi, or should I call a different CPA?

Thanks