It depends on the type of loan.

Having to buy another primary residence, to avoid tax on the gain of your current home, has not been a requirement for over 20 years.Assuming it was your primary residence from the beginning, and you have not moved out/rented it for more than 3 years, you gain is exempt up to $250k filing single and $500k married/filing jointly.

Sounds like what you're looking for is a line of credit on this rental property.

Hello,I'm from Toronto, ON (Canada) and I'm currently trying to understand what the tax implications would be if I were to invest in US multifamily (3-6 units) real estate.

@Chris Lee not sure if this is helpful but I've been running a midterm / shorter hybrid model for a little over a year on 6 of my units.

Hey @Joseph Nguyen,I’ve got some firsthand experience on this, especially in the context of residential real estate investments.

Our lease says no inoperable cars are allowed on the property.

I am looking to refinance an existing HELOC to increase the line of credit.

Plan on keeping it. 

I'm really confused on what to do.