Since the HELOC was used for a business use (renovating the rental) you can deduct the loan interest against that rental using the interest tracing rules found in §1.163-10T. 

You didn't write how much 'sweat equity' you put into this place, but it was likely well worth it given the $400K cash out.  

I dunno @Mike Francis, this has come up before and I still think that you aren't going to get a ton of traffic from being on there.

I personally don't know of their group but figured id link that article since i remember reading it and the name clicked. 

You'll likely also reduce your cost of living by moving to a stabilized apartment.Depending on the cashflow and debt paydown, you can use this strategy until you've built enough equity to reinvest.On the other hand, getting into a multi-family after refinancing will also help you build substantial equity to rinse and repeat in the coming years.

I will back it up with sound logic.  

The “hot tub show” models will work, but you will do more work on them in the end.  

I have over 30k coming in very soon and working on credit score.

Hopefully you have a better streamlined build on the next one.

.: I have a main company, that owns a bunch of LLCs, each LLC holds a single real estate asset. 1 of the LLC also acts as a management company for the entire portfolio.Now it creates a problems that with each LLC, I need to file a tax return each year. and so far I am doing them by excel copying numbers from bank statement, which is a nightmare.Quickbook online charges $24 each month in Canada, which really adds up with the number of holding LLCs. and I don't feel like what I require from it justify the cost.