Purchase cash then refi VS Purchase with loan

[Nik Krohn]

I was listening to the BP podcast show 53 and Josh mentions purchasing cash and then doing a refi on your properties. 

Is it a better strategy to purchase a property all cash then to do a refi OR to try to purchase the property with a conventional loan out the gate?

What are the PROS & CONS of each strategy?

Thanks for weighing in on the topic!