We like this saying in our company, "if you don't ask the right questions, you won't get the right answers".It applies here because you're asking a very vague question - so, how good & specific do you expect the responses to be?

Then apply May 2025 for HELOC on primary. 

You cannot slice an item into 6 pieces and apply de minimis to each piece.

Quick question.. if I just incorporated, on what basis would I apply for a loan on?

YES I agree there are a lot of agents/brokers out there that oversaturate the market but like the pareto principle applies to everything else - more than 80% of those licensed agents are doing barely/no business. 

A benefit of this method is that by grouping the activities, it allows you as the taxpayer to treat the activities as one when applying the 7 tests to determine material participation.

Of the multiple paths forward one was to build the home, apply very economical finishing and lease to section 8.

If applying requires more than two brain cells and one minute of their time, you'll eliminate a lot of the lookers.I recommend a syndication software.

It's true you get a tax deduction for your mortgage, but you also pay taxes on whatever else you decide to do with that money.I would list all of your known investment opportunities, what you think the after tax returns would be, and a risk level 1-5.If paying the mortgage is a clear standout on that list on a risk/reward basis, I would spread out the $60k over a period of time and apply it to principal.You might have other goals like cashflow or reducing risk which might weight towards paydown also.

Quote from @Brynn Walden: Paul AzadThanks Paul, I have applied to join the 506 group and look forward to reviewing that site!