My question is, if we take a cash out refinance from one property and pay off a second property; by virtue of interest tracing rules is the interest deductible on the second property.The reason I want to do this is because it improves on the title/closing costs for the one property while still leveraging the highest value property.

@Tierra CarpenterTo leverage your $20k, improve your credit score and explore creative ways to leverage it.

If you told him you have been playing pickup games for the past year and need help improving your jump shot, now he has evidence you're motivated and a specific goal he can quickly help you work towards.

- Consider low-cost cosmetic upgrades that could improve rentability or sale value.

UDFI typically arises when debt is used to acquire or improve income-producing property, and the proportion of income related to the debt can be subject to UBIT.

If you can qualify for conventional financing, a HomeStyle Renovation loan by Fannie Mae will let you do property improvements and not need to do a refinance once completed! 

Your clients are motivated sellers.You can NOT convert people who do not want to sell  (below market value) into people willing to sell below market value.The mistake people make (constantly) is their efforts are based on forcing non-motivated sellers to sell, by constant harassment.This is wrong.Instead of mass mailing blanket mailing,  and putting your energy in finding random people and forcing them to become motivated by putting a ton of effort and money into follow-up, you need to focus on targeting the RIGHT people.People who are actually looking for your service.Hopefully, it changes your perspective and you can improve your business.

Don't let fear stop you from making a decision that can improve your life.

Reinvest whatever money you save on taxes via depreciation back into more real estate or property improvements to continue increasing the size and quality of your portfolio.4.

Sure there are people who have done it but like Joe mentioned above is why your rate on HELOC is probably higher than your first mortgage so you'd only do it if your balance is really low and near the end of your term anyway so you're just getting it paid off quicker (like the last 1-3 years of payments left) becaues you want to get ride of the monthly payment and improve your cashflow now versus later.