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2) No. The 100K no questions asked for home equity loans does not exist anymore.

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I agree with my colleagues but FYI things may get wonky after TCJA expires in 2025 (or if significant portions of it are repealed before then).  A portion of your Sch E interest will suddenly become Sch A interest if/when the $100K HE interest deduction boomerangs.

This CCM is worth a read, Q&A conclusions start on page 5 (but if you have time, read the whole thing):

https://www.irs.gov/pub/irs-wd/1201017.pdf#page=5

IMO, that's one of the most concise documents you'll find on the subject.  Regs are found in -8T and -10T of 1.163:

https://www.law.cornell.edu/cfr/text/26/1.163-8T

https://www.law.cornell.edu/cfr/text/26/1.163-10T

(Don't let "Temporary" scare you, they've been that way since the 1980s but I'm sure at some point Pinocchio will become a real boy.)