What would you do - cash all in or finance

[David K.]

I have a pending deal in NJ - it is a condo townhouse - the selling price is 107k. The appraisal came in for 117k. The rents are around 1200 or more if lucky but i am counting on 1200.

With all the calcs it should be generating roughly $2500 / $3000 annually, which is not bad at all.

I am having issues getting mortgage as the y keep asking for more and more documents but the seller is frustrated and will pull away from the deal if I dont get a loan in the next few days.

Question - does it make sense to buy for cash and refinance later? How soon will I be able to refinance given that I have the appraisal in my pocket? Does the appraisal matter at all, or when refinancing, they will not account for this appraisal at all?

TY