Buy a home with cash...BUT HOW??

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question for the pros out there....ok once we get some cash in our coffers to play with Id like to know how to properly pay all cash for a home. we all know that all-cash offers will light a fire under the seller's *** to move quickly and accept the lowball offer versus having to close in 30+ days subject to our getting financing. But how do we do this WITHOUT tying up our cash for other use?? If we have friends/family who lend us money and we purchase a 100K home for 85K with all cash and we then decide to hold and rent, how can we go about getting a refi to pay our family lenders back quickly? do we give them official mortgage notes and make the refi pay back the "1st mortgage" (our family) if thats what it would even be considered? do we do a cashout refi where they cut us a check for the amount approved and pay them back with this? please help cuz Ive gotten contradicting answers....