However those costs might qualify for 100% bonus depreciation if they are not structural components, which is an added benefit with the new tax reform.

It's understandable, considering the awkward IRS (and Congress) language.HELOC is no longer deductible as a personal (Sch A) itemized deduction, unless used for improving you own home.However, the tax reform did not change the old rules that allowed deducting interest used for acquisition of business assets (Sch C), including rental properties (Sch E), regardless of the source of the money.One catch though: the money must be traceable to the purchase.

I distrust the gov-mint a lot so I surely wouldn't want to implement something permanent at this point in my career.I have read countless pieces of literature claiming on the '84 tax reforms buried a number of investors.

Despite all that, he's a hero to many in his party.Bill Clinton gave massive power to corporations, insurance companies and investment banks; he signed welfare reform acts that required people to get jobs; he left office with a budget surplus; and he spent a ridiculous amount of money on the military and defense.

It seems that even the politicians that get elected at the local level on a platform of low taxes, reform, and waste reduction end up getting co-opted by the system and eventually ask the voters for more tax dollars!

That is - assuming that the tax reform does happen.It is very possible that there will be some transition period or a phase-in or some kind of partial exclusion for people in your situation.

@David Moore TAX REFORM BILL IMPACTS 1031"Tax Cuts and Jobs Act" repeals personal property LKEs; Real estate exchanges saved, still vulnerableDear Friends,The long-awaited Republican tax reform proposal, released yesterday, modifies Section 1031 by repealing exchanges for all tangible and intangible personal property, leaving like-kind exchanges for real estate intact.

Therefore, the new "lender" may not have an obligation to provide a satisfaction for a mortgage they didn't purchase.On the good side, if you can't get a corrected release, your attorney might be able to file a declaratory judgment action to 1. reform the recorded release to correct the error or 2. since I believe NY has a 6 year statute of limitation on mortgage foreclosure and since you wrote it's been more than ten years since you paid off the debt, it's possible the Court would rule the mortgage is no longer enforceable and thereby nullify it as a lien on the property.I don't know what you're trying to accomplish that brought the error to your attention but if the problem is with a title company refusing to insure title without exception for the mortgage, depending on the error it may be possible to convince them to overlook the error if it's plain on its face. 

Its the lobbyists that fight healthcare reform and minimum wage and labor laws and consumer protection laws and predatory lending laws etc etc that stack the system not only against the poor but also most average americans.

I'm curious to know how we, as Real Estate Investors, think about the proposed Republican Tax Reform that is currently being proposed.There are two very significant changes which will affect ALL businesses, but ESPECIALLY Real Estate.The first is the elimination of the "Business Interest Expense Deduction" which I am assuming refers to any business which is bought using Debt.