Under TCJA (the Tax Cuts and Jobs Act of 2017), there is a declining scale as to how much bonus depreciation can be recognized in the year the property was purchased. 2022 is the last year in which 100% bonus depreciation is applied. 80% in 2023, 60% in 2024, 40% in 2025, 20% in 2026 and 0% for 2027 and after.

These entities also have recognized sub entities; a corporation can be a “C” or an “S” corporation, an LLC can be a single member, multi member, or series LLC.  

Since there is no CF coming, it's just one of the reasons why this isn't a good deal...in any way.I recognize that your definition of profitability and that of most other people is vastly different.

Sellers recognize this and, in my experience, would rather hear it from you directly.

But PA will still ding them 3.01% as PA does not recognize 1031s at the state level

Consistency and ALWAYS refining yourself and trying to improve are two huge indicators of success when talking about anything, but especially raising capital.Having a product that you genuinely believe in and know front to back certainly helps too ;)

But, when I do a referral, they appreciate my clients because they know they are real, are not tire kickers and are genuinely good people.

Be genuine and come from a place of solving a problem not the generic “I’ll buy your home cash” 

If you consistently analyze properties, it will be much easier to recognize a good deal when it shows up.

Good, long-term thinking real estate investors recognize the value of market knowledge.