Last year I bought a rental property and I used 50k from my HELOC in order to give down as my down payment. Now I have been told the interest I pay (~$135/month) is tax deductible, but is it worth paying it off with cash I have or just keep it aside ofr a rainy day or to buy other properties. I know buying another property would be best, but I have been looking for past six months and no good deals yet.
Right now I make about $50 interest on the cash so this is why I was thinking of using it to offset the $135/month on the other. I need your opinions please