I have a few people interested in investing with me strictly as cash partners.  

Purchase price: $44,000 Cash invested: $75,000 This was a huge undertaking, but the risk reward ratio worked out great.

The idea is to expect a negative cash flow, however bank on the growth to achieve a good return.

I'm making two assumptions here - it will take you a year to get the tenants out, and so you are cash flow negative for a year, and that year of negative cash flow is a lot less than the loss in sale price you will need to take to get it sold as-is. 

At $1200 in rent, you will probably have negative cash flow. 

I have gotten 2 this year so far on the market that pencil for us at roughly 50%+ return cash on cash after lending and holding costs

@Lexi Blocksom If the burden of holding the property outweighs the long-term gains, a 1031 exchange allows you to defer all taxes, and you won’t have to recapture depreciation.This option enables you to use the deferred tax benefits to purchase nicer properties in areas with greater growth potential.Once you complete your exchange, you can immediately do a cash-out refinance if you need access to some cash, tax-free.

You're cash-flowning a little. 

I am looking at similar strategies (as I'm limited by the cash I have available).

Obviously cash flow would be wonderful, but not necessarily needed.