I wanted to understand if any kind of debt (conventional mortgage, HELOC, cash-out refi)  on the house will be considered as COST that I spend money on rental property and they will provide me tax saving, compare to having paid-off house, in the same degree/amount. 

(winters of 30 degrees). 

Then, work backwards (reverse engineer) from those numbers establishing specific financial prerequisites for each step to get to your financial goals, much like in college with your degree being your goal, and the classes you must take, in specific order, the prerequisite steps in order of appearance. 

@Ragnar, please do not judge all syndicators via this one example.Most good syndicators will not only include these financial projections but also identify that all investments have some degree of risk and would not recommend investing outside your means.We also share our underwriting and walk investors through our model.This has worked for us since the vast majority of our investors are in multiple deals with us.Flashy "Moghuls" have to get their multitude of planes and cars paid for somehow (guessing by the partnership).

Hello, I am completely aware that a college degree is not necessary.

Most investors I'm following and want to emulate were on that path to some degree and then had a moment of realization and said no, screw that, get out there and put your money to work for you.Maybe I'm stretching, but that's what I'm going with!

I currently go to college for my Network System Technology degree.

@Chris K.I have one STR in Scottsdale that has a gas heater only, my natural gas bill for last month was over $1200 to heat the pool during guest stays in Arizona to 85 degrees. 

(looks like yours will)- Since it will involve my time to some degree, what approximate &/hr do I expect to receive for my time?

If you are seeking the highest % of passive losses, look for mobile home park investments as they will have a greater degree of land improvements than other asset types.