You have a non-cash deduction equal to the improvements on the property divided by 27.5. 

I know, not all builders are created equal.

If they both otherwise qualify and everything else is equal, I would personally take the one who is an essential worker because - at least in my state - bars have been completely closed multiple times due to COVID. 

-US Judge Learned Hand Equalizing wealth in the USA by government taxation never used to be a sought after outcome. 

Maybe you just mean that for example purpose but I just wanted to make the the distinction that cash flow is not equal to rent - mortgage.

But to put that in perspective, with the above example, everything else being equal, you would start out with $100,000 in annual cash flow and after making the tweaks mentioned you would be up to $231,250.

The real estate hit of 2008-2010 did not effect every area equally, migration out and immigration trends have changed as once poor areas have gentrified, corporations have come and gone, etc..  

Everyone has different beliefs about the virus of course.

E.g. ending March balance was not equal to beginning April balance.

He asks the first accountant, "What does 2 + 2 equal?"