So, getting the financing for your first flip is different than buying a house to live in normally.Cash only doesn’t mean that you have a suitcase full of $100 bills or all the funds available in your checking account.I believe if you have a preapproval letter from a financial institution or a commitment letter of funds from a private letter, that will suffice too.

Cashier's check, wires and the like are not subject to the same scrutiny.So if one of your investors is handing you a suitcase of $20s and you're trying to deposit that, that's when the banking regulations come into play.

Maybe there's a website called "Bigger Suitcases" for deals like this...:)

As a local reputation and local relationship based lender, I cannot allow there to be ANY difference between my signature next to the number "$500k," and a suitcase full of $500k cash, or I now can't feed my family if I allowed there to be any difference.

@Ned Carey, yeah the only thing I could think of is the suitcase of money.  

Keep in mind, its only the guest and their suitcase coming in and out.

Like suitcases full of cash because in my market conventional financing loses every time. 

I probably would not have let them 'move in' (with all their furniture and stuff--more just a place to stay with a suitcase and air mattress or something), but I decided to pass on that idea. 

Unless your world currently fits into a suitcase, the cost of moving is very expensive. 2. when it comes time to sell in 1 year, perhaps the market has moved up, you'll sell and make a profit, but the problem is that if you buy another residence but in a higher market, that profit essentially disappears so you're back at square one. 3.

It's east of Suitcase city so extremely transient tenants won't be a problem but the last time I checked it was populated by probably 40-50%, as an educated guess, by students.