All cash purchases exist in multifamily as well and have similarly been increasing.The reason for the increase in all cash buyers is not due to primary residence purchases but rather vacation homes and investors.Investors of homes make purchase decisions similar to how multifamily is evaluated, based on cap rates, cash flow, value-add, etc.

After vacationing there for two summers I was interested in investing there.

We can put the net proceeds in a savings account and use that towards our dream vacation."

For those not purchasing with cash, assessing income or cash flow can often come down to the terms of the mortgage financing for an AirBNB or Vacation rental. 

In order to secure our FHA loan, we opted for a strategy known as "cash for keys," where we incentivized one set of tenants to vacate.

Four years ago me and some other vacation rental investors in Daytona Beach sued the city in an attempt to allow STR in all of Daytona Beach. 

Will you be using a vacating residence lease or just the lease from the other unit(s)? 

I have a mechanical murphy bed product I have used in our vacation rental that people absolutely love!

For example, you can use credit cards for vacations you can't pay for. 

My wife and I are thinking seriously about investing in Mexico, somewhere that is a vacation destination where we could go once or twice a year that will also have the potential to bring in healthy income stream.