This means you'll get a good cash flow, but appreciation of the property will be low.In the phoenix area there is more ownership and less renting, but due to prices increasing faster than inflation we are seeing a rise in renters.

in cash flow would cut it for me. i'd want enough to cover the mtg, but also R&M and a little for vacancy. if i can't do that plus have a little actual "cash flow" left over.... i'm still here :) if that's any indication. 

My realtor stated I may not have enough cash to cover rehab cost after selling.

Having cash ready to deploy is a huge advantage.

They sell you the land (you may or may not need to put some cash down) and they carry a note in 1st position.

You are missing my point on taxes.Scenario 1:  Your partner buys the house at the same time you put your cash in.  

If you truly just want your primary paid off you can just do a cash out refi on your investment, still in your own name, and pay off your primary.

On my new builds we hit the double cash on cash in certain markets sometimes its only 50%.

The cash investor who "saw the property on zillow" but doesn't really understand what REO means or how the banks operate. 

Cash Flow - money coming in is greater than your expenses.