Primarily with creative terms but also general strength of buyer position has resulted in considerable discounts or investor incentives particularly with transactions involving healthy cash portions of 1031 Exchanges. 

If you are holding long-term you can do a cash-out refinance, but unless you really buy it for a deep discount or do huge value-add with little money, you probably won't get all of your money out of the project.

We’re investors and have been buying houses in the area at a discount.

That being said, pretty much every investor that reaches out to us seems to be under the impression that they would be our only investor client and that we are sitting on tons of pocket-listings (off market listings) that we are just praying for someone like them to take off our hands at insane discounts.

As soon as you discount gross rent, nothing cash flows. 

You cant just straight up finance every single cent of a purchase transaction - there are typically downpayment requirements and closing costs than cant be rolled into the loan.

It may be the case that in the recent past the "noise" seemed to indicate that there were more of one kind than another - cash flow only, appreciation only, refi till you die, etc - but if you look beyond the noise to the signal it's a pretty steady drumbeat straight through.  

It is more straight forward for certain things like the lumbar for your addition.

That street is definitely in a transition phase and given the current market conditions in my opinion you would have to discount units in that building to a point where it wouldn't make sense as a STR.

I wish we had $100k discounts haha