I am thinking of buying an income property before end of year, in part to take advantage of the generous Jobs Act depreciation allowance which I understand will expire 12/31/22.  

If you havent already -  1) get pre approved  ( assuming you need finnacing  2) forge a realtionship with a realtor that understands the need you have 

Understand supply and demand dynamics1.If purchasing an existing facility, review the current tenant files, rent roll, and delinquency reports.

I know and understand 1031 exchanges, but even after being an experienced realtor, I’ve never been involved in one.

If it's solid wood, it can be sanded numerous times.....a recent rehab where the floor was thrashed got 3 heavy re-sands, ended up being one of the most beautiful floors anyone had ever seen.Also, I would look at jacking up the center floor a bit while you're at it.

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

And everything I’ve read in posts from the Sub To Guys is thought out, ethical, and defensible as solid real estate advice.  

More specifically, analyzing hundreds of pages of text in disclosure packets including inspections and advisories to understand the risks when closing deals. 

I understand the concept of hard money loans, but I'm currently navigating the process of applying for one myself.

I understand your excitement about taking the plunge into real estate investing.