Deducting HELOC interest on investment property

[Brian Ito]

Hi, I’m new to BP and am so glad I found this community. I have 3 investment properties and a house in SF that i bought from 2011-2015 and am really eager to start investing outside the Bay Area as the numbers don’t pencil. My home has appreciated quite a bit and I recently took a HELOC to tap into the equity due to appreciation. I spoke to my accountant and was told that the HELOC interest isn’t deductible even if I use it to acquire another property. I would like to know if the above is correct. I’m also looking for a new CPA who is more familiar with real estate investments. Any help and recommendations would be great. Thanks in advance!