You can make adjustments by not pulling out 100% of your cash to the point you have an acceptable Cash Flow.

I'll take an infinite return on my money all day every day.Don't forget about gaining equity through appreciation and principle pay down.And keep in mind that's after the equity you already forced through rehab.Also don't forget about the tax benefits of rentals.Plenty of reasons to LOVE the BRRRR strategy if you can find deals where they work!

To answer your first question, there is no tax benefit to buying a late stage note vs early stage.  

The meeting itself is usually interesting, often with useful topics, but the first 45 minutes to an hour is usually a sales pitch for why you must join REIA, and how great the benefits are and how foolish you would be if you did not join. 

You can adjust for square footage.

You were not able to take any of the losses because your income was above $150,000.in 2017 - you have 7,000 of suspended losses and $1000 of loss generated in 2017.You sell the property for $125,000 and your adjusted basis is 78,400(21,600 of accumulated depreciation).You calculate 46,600 of gain but you are entitled to report the $8000 of losses on schedule E.Let me know if you have any questions.

So assuming the business is making net at least 146k, how much is the difference when you adjust the salary across income tax to owner distribution at the 21% rate. 

I know that a benefit of paying off a loan is increased cash flow, but I am curious how not paying down a loan can also generate cash. 

Considering that the only group sued more than landlords is doctors, I'd say the benefits of asset protection far outweigh the savings you are looking at. 

No adjustable rates, balloons, gotcha fees that hard money or non-conventional  mortgages would have.