You are just making profit from the yield play.  

Depreciation helps reduce the taxable rental profit, potentially bringing it to zero or even creating a loss, which can carry forward to offset future rental income or other capital gains.For high wage earners, other tax strategies could include leveraging cost segregation studies to accelerate depreciation on rental properties through bonus depreciation, taking advantage of tax-deferred exchanges (like a 1031 exchange), or maximizing deductions related to property expenses (mortgage interest, property taxes, insurance, repairs, etc.).

Furthermore, this rule may be disregarded as investors become more creative.For instance, if investors intend to buy and make a long-term hold play, betting on appreciation, they may be able to afford to pay more.

As you know there are a lot of factors that play into making each property a successful Short Term Rental.

It's in senate right now and if it passes, bonus depreciation goes back up to 100%. 

What a lot of people think:Bonus depreciation is only for new properties or acquisitions.The truth:You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the Tax Cuts and Jobs Act passed changing various rules.The IRS allows you to claim missed depreciation deductions by adjusting your current year's tax return, without needing to amend the previous year's returns.This is typically done through a change in accounting method using IRS Form 3115.

You will need to really start playing the long game though and focus on securing assets that have good underlying fundamentals as you will need to get more creative with the financing if you want to keep moving quickly.

It will also most likely be my last year of playing baseball here as well.

Since it’s been a little while, I’m curious how things played out for you.Just wanted to mention, for a cash-out refinance using a DSCR loan, the max leverage is typically around 75% LTV.

So the play was these fellows would hunt down who lost the house get them to sign a deed over to them for say 500.00 then they would sell this deed for say 5 to 10k and sometimes much more there buy extingishing the redemption rights and the bidder could start right away on rehab etc.. its was just a cash for keys grab..