Quote from @Kyle Barnhart: I live near Phoenix and looking to invest locally.

I am a new real estate investor and I'm trying to determine the best way to finance my first property.

(I know, nothing is certain but just hypothetically) and all cash out loans are not created equal. if you have a lot of equity you can borrow up to 60% with the lowest rate possible, which would be close to a half point lower then borrowing up to 75% loan to value. 

The secret to dominating the world of off-market acquisitions isn’t about delivering a slick pitch or being pushy—it’s about becoming the trusted, go-to problem solver that sellers want to work with.

Welcome to BP, Rodney!

To rebuild would not be all that much more due to the work that needs to be done. 

Anytime of day.

you would need to make monthly payments to the seller during the rehab, just like to any other lender, and then if it were a rental, you would want the rent to cover the payments plus all other expenses.you'd also need to figure out how to pay for the rehab - either out of pocket, or finance it somehow. 

And I was living below them so it made it tough as I was going through the eviction process with them.

Welcome to BiggerPockets, Rocky!