I was trying to find information on the following situation under the new tax laws:

 Taxpayer has 3 properties as follows: 

Property A: personal residence                          $250k mortgage (acquisition indebtedness) 

Property B: rental property                                 $500k mortgage (acquisition indebtedness) 

Property C: Rental property                                 no mortgage 

If he refinances property C for $750k and uses the proceeds to pay off the mortgages on properties A & B will he be able to deduct the mortgage interest now on property C  since on property C it does not represent acquisition indebtedness for property C?