I just sat through a seminar hoping to find clear answers to the following, but didn't:Are closing costs associated with a cash-out refinance on my primary residence deductible in whole or in part for tax purposes? 

I also have another house that was my primary residence that will be paid off in about 5.5 years.

@Ann Bellamy  thank you, however my situation is anything but "local" = I reside in a small town that does not have any such lenders and I invest in an entirely different state than where I live.  

$1,000,000 max for primary residence, $500,000 for second/vacation home... 

., resident in the forums.Click on the "Education Tab" at the top of the page, and you could be spending many hours on the Information that is available.Raymond

(Assuming your personal residence is in top condition), then review pictures of those sold in your area over the last 90 days, basically, do your own analysis, and provide that to the appraiser.  

Can i do it out of state while residing in ny

I am currently shopping the market trying to find a primary residence that is a great deal for when I become stationed at Goodfellow, AFB. 

This has allowed me to support my family on a single income for close to 8 years now while buying a primary residence and investing in RE.

., resident in the forums.Click on the "Education Tab" at the top of the page, and you could be spending many hours on the Information that is available.Raymond