You don't want to be in a position where something happens and then they deny coverage due to undisclosed use of property. 

Thanks @Denis Ponder for sharing!

The biggest issue with using all cash is that it ties all your money up and denies you the leveraging power of using the banks money.  

I just got a response from them stating that our request was denied because we will not be living in the property for at least a year.

Quote from @Denis Ponder: Why not find another PM? 

Something like: Hello, thank you for your application. . . unfortunately the application was denied to due x,y,z "does't meet income requirement."

Prior to about 15 years ago the PM used to call with a rundown of the applicant’s credit, income and any relevant facts and I would approve or deny.

Quote from @Denis Ponder: I'm targeting something around $20k/month from real estate to add to my retirement from work and SS. 

If you accept, the entity that you are requesting information from has 30 days to comply and fulfill your request from the date all monies are paid and you have answered any/all questions they have about your request.If they deny your request, you are more than welcome to submit a modified request.

Be careful not to open up a legal can of worms by trying to fight or deny the addition of a toddler.