Then fix it up, and rent, refinance, repeat. Or

I want to rent out my current house, and buy another fixer and repeat the process. 

By the way, repeatedly so.

Leverage 75% LTV, buy $2M in multi-family class B/C needing lipstick to max the rents, stabilize for one year of clean operating expenses, cash-out refi, wash, rinse, repeat.

Initial Escrow Payment at Closing affect the J.

Your story will help others not repeat them down the line.

Once I'm through to refi step in my BRRRR, I'd return the money to the heloc until the next deal and then repeat.

It affects all their income not just the marginal return a few extra units can bring.Anyway thank you all, this has reassured me of my strategy.

Their campaign will tell you that it only affects those who make over $400,000 in a year, but what they do not tell you is that the capital gain triggered by the sale of real estate would be included/counted as part of your income for the year. 

All of these things will affect your overall annual taxes after purchase.