A HELOC on your duplex or home offers flexible, low-interest financing ideal for BRRRR, with potential tax-deductible interest if used for property expenses.

He’s also interested in staying in the home if possible and deduct the rent from the balance he owes.

Would it be better to do some remodeling and deduct those costs from the sale proceeds, or should I foreclose and sell the property "as-is"?

Consult a tax professional to optimize deductions and explore strategies like Real Estate Professional Status or short-term rental loopholes to apply depreciation to non-passive income.This post does not create a CPA-Client relationship.

I would look at their policies and make sure both the coverage and deductibles meet your needs. 

Knowing what I know now, I will never contribute to Roth; I will only make pre-tax contributions, get maximum tax deductions, invest, and then be selective about which asset I want to convert (such as the one above).  

Income taxes- if needed can you use your 2 year primary residence deduction if a taxable event occurs.13.  1031-  if any part of the insurance claim is a taxable event is there some way to do a 1031 with lenient time frame adjustments?  

You don't get more deductions or lower your taxes with an LLC.

This is due to bonus depreciation which allows taxpayers to deduct 100% of qualifying property costs in the first year, in addition to regular depreciation for new construction and improvement.

Whichever loan that you decide to use, the interest will be tax deductible due to interest tracing rules.