Cash purchase and refinance later vs. finance purchase upfront?

[Adam Baugh]

Bonus depreciation in 2020 is an amazing tax benefit this year. I'm a buying a unit that cashflows well. I have cash for purchase. Here is my question:

Should I pay cash and close before end of 2020 then refi after? Or should I just do a traditional escrow and finance the purchase knowing that it will close in 2021?  

What are the drawbacks of refinancing an after-cash purchase versus just financing from the beginning?