"I
took out a HELOC on my personal residence and used the proceeds for
renovations on existing rental properties. I would think tracking this
in QB would be appropriate."
It is Appropriate to track it if the Business Property was liened.
"Apologies for not being more clear in my
question."
You still didn't tell us the Business Tax Entity type, though.
Let me give you an example:
You and your Brother have an LLC and have rental property; your Personal Debt does not belong to the LLC nor to your brother. You Loaned To the LLC, and the LLC owes You, not your HELOC.
