Search for some other posts here on BP and you'll see that every tax pro on here is taking the stance of the majority of rentals qualifying via 162 without the safe harbor. 

(Yes, we bought the D Greene book.. it's on the way via Amazon)Thanks for helping a newbie understand this,Antonio & Mandana

So far my experience in getting loans via banks in the Philippines was not positive.

There’s a difference between having less of something (stock losses) and none of something (destroyed debt via default)Make no doubt, this one’s gonna hurt.  

Another profitable way to handle this would be via seller financing.

You can find his contact info via Google.He's a mortgage LO, but more importantly, also an investor so he "gets it"!

I will likely do this via an on-market deal as quickly as possible.

And I doubt my next biggest bill -- the city via property tax -- is going to give two craps about my struggles.If my bank and the city said "Hey, don't strees.  

The only people who make money on boundary lines are the lawyers and surveyors.

Their profit margin is the difference between their HELOC rate, and the rate they are charging you (+ fees).Almost all HELOCs are adjustable rate mortgages, with their rates tied via a round-a-bout way to the federal funds rate (the thing that just dropped to 0%).