Readers should seek professional advice.

Check with your lender and consult a tax professional to ensure proper structuring for interest deductions.

I definitely recommend that you seek out a Certified Cost Segregation Professional so that you are confident in the quality of the work performed and the deliverables produced.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Just like when you call a big company and a robot answers your questions, but you have such a specialized question that requires a professional's input.

Assuming they were professionally prepared and compliant with state law, these should define your default interest terms – probably in your note.

Using a Heloc utilizes the equity that is sitting dormant, it provides tax relief (once again check with your tax professional) as it is interest income, you can typically get a reasonable rate andlastly there is no out of pocket money.

I will look at a few factors, rent for area, total mortgage payment with property taxes( which can be crazy in Detroit), investment in neighborhood, I like looking into places where they are building homes and apartments that attract young professionals or families , and also looking at potential to make a single family home into a duplex or something can add an adu or transform a basement to a studio apartment!

I am a busy professional so I have limited spare time.

Readers should seek professional advice.