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A business (owning many properties) can write off the debts (loans).
The advantage of a home is that you don't pay capital gains on the home. You do on income property.
SO if you have a large growth in value of the rental, you pay tax.
Large growth on home is tax free.
Now an advantage is to let the income property grow in value. Do tax free exchanges on these properties. Then one day buy a place you'd like to live. Rent it out for 2 years, remodel it then move in and live for at least 2 years. Then that place is free of cap gains tax.
You've heard me complain about tax free exchanges? Well, my property's in a LP, I can't avail myself of this loophole.
You need to have a cup of coffee with your accountant and discuss this.
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