Even if you can't use the full bonus depreciation in 2022, the tax savings could still be impactful in future years.It's great that you’re planning to work with a real estate-specific CPA, as they can help ensure you're compliant and help optimize your strategy for future tax savings.

At a high level, this is generally the path people take - we see a lot of people have success in this route - start building the portfolio with banks, low down payments, and then **generally** when you hit around 5 or so properties - it starts to make sense to switch over to LLCs, its too hard to qualify/deal with paperwork of banks and switch towards private lenders like DSCR Loans - (LLC friendly, easier) to scale past 5 or so.

I have already talked to a private lender of mine that tentatively agreed to lend on the deal.

If you don't have savings to get more property, the leverage would only increase and the risk so why risk something when you are creating a strong foundation?

The thing is he wants to sell it directly to me (FSBO) without the use of an agent to save on commissions.

Not hard money, not private money.

As the owner, you should also be more flexible about how nice the basement is - saving you rehab costs. 

Ill send you a private message prior to my arrival to SA so we can meet.

Quote from @Brandon Croucier: Private investors/lenders do them if theres enough equity. 

Quote from @Hamed Rahimi: With so few properties, you'll spend more time learning how to use the tools than you will save from using them.Software is a common question on BiggerPockets.