I feel I’ll be chasing a falling market.Your input is greatly appreciated.

Plus you would also owe 25% taxes on that $100k you depreciated.As far as states chasing you down, I THINK only California and for some reason a unique east coast state like PA have strange  taxes/laws regarding 1031 exchanges. 

Don't chase shiny balls. 

When your demand exceeds supply, the cost of those goods or services rise.So you've got tons of money chasing real estate with the low interest rates.

It's easy to chase the shiny carrot and find new people but don't neglect your database and SOI(sphere of influence).

I certainly would not chase the PM's vendors, I would have no need or desire to know who they are and that is what I would tell the CPA.

You market sounds a lot like my market, where investors are buying who don't care about cash flow because they believe so strongly in appreciation.If you're chasing cash flow, you're going to have a really hard time finding anything that makes sense in your market You can look for value add deals in your area, look in other markets, or wait for inventory to tick up and more deals to start to surface.

@Chase MurphyThe only 85LTVs I've seen in 2022 are from HMLs.  

May it bring you years of cash flow.Hopefully you don't need it to be 100% at market all the time, because you will always be chasing market rent with a lag. 

One of the challenges when buying notes is after the sale, having the seller create the transfer documents and getting them to you in a timely manner. Recently I ran into an issue where the collateral documents were t...