I am using a lot of vinyl plank because of the price point, durability and water resistance.  

@Mana Silva bank the cash and resist thoughts of spending it on unnecessary items.  

If they are resistant, you have to decide based on factors not made known here (how bad you want someone in, how long it would take to find someone else, etc...)

I never get resistance from my buyers because most have already purchased a large commercial property before so they know how the game is played.

If you focus on the following, you can probably reduce your risk and not have to worry about the area getting worse for a long time:-access to public transportation, job and population trends, rent growth, vacant housing stock in the area, quality of school districtFor example....If you're planning to invest in a town with one large major employer (say a manufacturer) and that employer goes out of business or has a mass layoff due to an economic downturn, it doesn't matter if you own single families or multifamilies......there isn't going to be anyone to rent your units or buy your property.  99% of the time, a diversified local employment base is better (or atleast one that has many employers that are downturn resistant - health care, education, government, etc.) 

They claim its water resistant.

My lien position would be in second behind what I assume is a first mortgage and my option to purchase gives me the ability to control the sale price along with the owner (and force the sale if owner gave any resistance).

Todd Ryan this might be difficult as not everyone might want to sell.Yes I agree @Dawn Anastasi, some people are resistant.

So lets say a guy has around 400k in liquid assets and is looking at a goal of 10k+ passive cash flow per month, what is the path of least resistance to get there?

I won't really do this, but if they resist, it suggests they plan on making money on maintenance (avoid these guys).Also, I prefer one who's also an agent.