Rental Property Financing Question

[Maxwell Milholland]

Hey everybody! I was wondering what you all think about a situation that I keep running into. While searching the MLS, i keep running into properties that have been on the market for hundreds of days, sometimes up to a year. These are properties that would likely cash flow nicely and are in desireable areas. Only catch is the financing options listed for the properties say “cash only”. I can’t pay in cash. I likely will need a rehab loan of some sort to handle Reno costs. Does anybody have any experience with offering bank financing on properties like this? One of them is an REO. I would think the bank would just want to rid themselves of this property they’ve had for over 300 days, even if it means condidering a non-cash offer.Anybody have any thoughts on this?