Mortgage interest is deductible to a point, it starts to phase out at certain income levels, and if you're in alternative-minimum-tax land it's diminished even

Mortgage interest is deductible to a point, it starts to phase out at certain income levels, and if you're in alternative-minimum-tax land it's diminished even more. R/E tax is also deductible. We “extracted” enough from sales of two previous apartments to give us close to 65% equity in our current apartment.