I have two questions regarding mortgage interest tax deductions.First, last year, I purchased a HUD property at a significant discount and used a $70,000 HELOC from my primary residence for the down payment.

Looks like Paramount is under Federal investigation for having failed to make agreed payments. 

I have been digesting all things Real Estate so right now I am working to lower my DTI while saving at least 6-7% for the Owner Occupant down payment (to include closing cost, etc.).

Do you have a price range (or down payment target) and are you ok with some rehab or do you prefer turn key?

They are short term loans, usually 6-12 months, high rate, interest only payments. 

Meaning if the borrower stops making their payments the investor can lose all of their investment.

All told, cash flow will be a function of your down payment and your management of the property.FL tourism continues to flourish. 

I've been thinking a lot about Florida and I believe it's a great state for future potential investments such as purchasing and renting out (utilizing the BRRRR Method Of Course).

The payment on the refi would be about 40% of renting a place while looking for the next property.Thanks for listening. 

Financing contingency is there if you can't get the loan at the amount you thought, interest rate is raised or your payment changed higher than you put in the loan could give you an out.