Using your cash vs seeking HML or other sources

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Hello,

I've been considering using hard money loans to get me started in REI here in my area. On the other hand I do have enough personal funds to acquire the properties that I will be focusing on (acquisition includes purchase costs, rehab costs, holding costs, appraisals, etc). I'm just a little uneasy about sinking the vast majority of my funds into my first deal. There is that little voice in the back of my head that says, "If this doesn't work your fu-bar'd!". I have and will continue to do my due diligence on prospective properties to make sure there is a profit even if the unexpected (which I'm sure will happen) comes around. The hard money loans that I've been looking at require a sizeable amount of down payment as well as charging several points and other fees. I'm beginning to think that if I can just go in and offer all cash I could possibly negotiate a lower asking price due to speed of close. Also the fees and points that I would have lost from getting the hard money loan are then turned to profit or even allow me a to increase m contigency factor for the unexpected during rehab. Another expense I can eliminate is the interest payments I would be making while rehabbing and listing the property for retail sale.

Am I missing something here? Is there a reason why I shouldn't use my funds to purchase my first rehab property? It seems like there are so many fewer hoops to jump through and the profit margin is also a bit higher.

Thanks.