All Cash vs Leveraging re: Future Market Drop for 1st Investment

[Tim Lounibos]

Hey BP Community: 

I'm about to purchase my first rental property (will start offering mid-April when all my financing, cash reserve, and 2nd reserve source--i.e. heloc is in place). Finalizing my plan of action and leaning towards all-cash purchase and then cash-out refinancing after seasoning period (amount of repairs/rehab will depend on property--spent the past month studying up on BRRRR, REI, etc). A concern that's nagging at me is that I'll be buying when the market is probably near its peak and might drop during the seasoning period before refinancing. SO which course seems most prudent during these times: ALL-CASH OFFER with the accompanying purchasing benefits and intention for refinancing off a higher ARV vs. LEVERAGING the purchase with traditional lender from the beginning and avoiding a major hit within that six-month window? Any and all thoughts are much appreciated, THANK YOU!