Bottom line sub too is an advanced strategy that should only be done by Experienced investor with significant cash reserves or access to lending/like substantial LOC that already exist and can be taped at a moments notice. 

A lot of newer investors hear older podcasts when people where buying brrrrs, making money on the cash out refi and then cash flow.

It is not typical that you will find SF deal after deal, and if you are actively marketing for distressed sellers many...most...will want cash sales.

Purchase price: $240,000 Cash invested: $39,000 Sale price: $342,000 Held property for 3 years and rented out the property for 2 years with a rental profit total of $22100 How did you finance this deal?

As Stuart mentioned, there are several issues that might arise with the property, which could definitely impact your cash flow. 

Focus on buying below market value, running numbers first (cash flow, 1% rule), and choosing a landlord-friendly location with job growth.

If you math it out it is probably unlikely that you will be cash flowing on a property that you are using 100% leverage on from a turnkey company.

I think it is best for me in my situation to use an all cash offer, and I don't rent back to distressed sellers.  

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

A few years ago sellers weren't accepting offers with financing because there were so many cash buyers.