Cash offers - how MUCH more attractive are they?

[John Hartnett]

I've placed a bunch of offers this year, seeking to pursue a buy and hold strategy to build a rental portfolio. The county records show that a recent house settled for $125k cash, while my offer was $135k with 20% down. The house was on the market for 500 days, not a short sale or a foreclosure.

SO - how much more attractive in quantitative terms are cash offers? Should I make ALL my offers in cash and then refinance them?