Cash out on rentals/tax treatment

[Dee M.]

Hi Everyone,

I'm hoping someone can help me clarify this question;

I own several rentals in Denver (free and clear).  I want to pull some cash out and buy more rentals,(seems to make sense at these historically low rates).  Does anyone know how this would be treated tax wise? Would that be treated as ordinary income and taxed at my current tax rate?  Thank you for any help!