When looking at future IP purchases, we usually look to buy an older established IP, and budget a standard $20k for a reno to increase both equity and rental price. Assuming we have more than enough equity, if we use equity from a current IP to pay the deposit on the new IP, what is the best structure for us to access $20k for a reno each time we purchase a new IP? For example, if we have 150k equity, and we purchase another IP costing $250k. We use $65k equity for the deposit/costs with an 80% LVR. Is it better to take another $20k from equity to reno the new purchase, or set up a $20k LOC - or does it not make a difference as it's all borrowed capital anyway? Would either option affect serviceability or tax in a particular negative way?