What you're referring to doing is a sandwich lease option or a lease option assignment, depending on if you want to stay in the middle or just pass the property along. 

Search for "sandwich" lease option ...

The problem isn't the lack of enough cash...the problem is the lack of enough knowledge of the many other ways to use cash to buy RE.1 - Seller financing (seller holding the note)2 - Seller Financing (using a lease option or sandwich lease option)3 - Equity sharing4 - Buying Out of State5 through ???

Often it is bringing the loan out of arrears (so $5k+) or doing and paying for necessary or deferred repairs.If you are looking for truly "no money down" deals, I'd suggest sandwich L/Os. 

Now you’re talking more like 8-9% annual cash on cash return, just like I said earlier.Think maybe you owe me a sandwich at this point 😁

So many families at least out our way make well north of 20k a month you still have 15k a month to live on before tax's of course.. but if I lived in a low end low value market were U can buy rentals for the price of cars .. then of course you want to reinvest in your business until it cash flowing enough to buy what ever it is you want to buy.same if I wanted to run subway sandwich shops buy about 3 or 4 of those and pay them off in 7 years and your set for life.. 

Grilled chicken sandwich rapped in lettuce, grilled nuggets and the super food!!

So a sandwich technique.

Should the cement board sandwich the flange to the wall, or should it just sit on top of the flange?   

You would see what they are proposing, you'd know if it was real or a fluke or a waste of time or even if it were illegal.As an example, a "sandwich lease" is the oldest concept in real estate, the King granted certain rights, but not ownership, of land to Lords who then in turn leased the property for benefits from the land.