I know personally I have benefit with my 90 home project 20 miles south of Downtown PDX..

Could get a personal loan beforehand to help cover the difference.  

My main concern would be using HELOC on personal residence to make first real estate investment, not as concerned with the Roth/IRA but still don't want to make a big mistake on the first one. 

I understand that I can deduct mortgage interest up to $750k on my personal residence.

Many groups during Covid have switched to online only or a combination of online/in person events.

Thank you @John Mason.Do you have personal experience with this firm or some you know is good and reliable ?

You are looking to rent or buy a space with a partner to have a personal fitness business or just a class?

Since, you will have to do business with them on your properties on a personal level.

It's similar to how you report it for tax purposes in years where you aren't selling it, you report 50% (or whatever % is allocable to each side) as rental property and depreciate that 50% while the other 50% is your own personal residence and therefore is not part of Schedule E.

Buildium has this statement, hopefully your PMC knows how to generate it.You should be able to give your tax professional the 1099 and annual statement, along with property tax, insurance, etc. bills you personally paid and that's it.I think Buildium even allows the annual statement to be sent in CSV format, so you could just add the expenses you paid to that.