IF you pull a HELOC on your primary and use it to buy jet skis and a vacation it's not deductible. 

We have been looking in our state specifically in Upstate NY in an area where there are skiing and hiking opportunities.

We'd probably see dips in early spring and late fall as most people would be looking for fun on the lake or skiing (both near by the subject property).  

I do get peeved when people get needlessly personal or resort to unfortunate short cuts.I will post links to references cited as well as a few other useful cases & articles.Bottom line, as I stated before (and still open for logical refutation, I want to know if I am in fact mistaken):- Most taxpayers with 2+ rentals that are not triple-net leased should qualify as a TB-Many taxpayers with 1 rental that is not triple net leased may qualify-Delegation counts, even if the taxpayer is completely “passive”-Pass-through from partnerships/S-Corps/certain kinds of trust should count

But save this as a last resort.

I am trying to purchase an 8 cabin lodge in a resort town.

I have a property under contract (I’m a Wholesaler) in Nashville TN (Rutherford County) to be exact. It’s a Hot market. I have a 2033 sq ft home with around 20k in repairs (it’s a great home) built in 1995, roof still...

As a last resort, if your mortgage broker managed to qualify someone for a mortgage right now, you could cancel the lease with the seller and just assign the option so they can close traditionally.

Hi, I am looking to invest in Margaritaville's Orlando Resort.

Currently the sky's the limit.