You are still exiting with a refinance and thus the terms wouldn't change on the exit whether you are buying in cash and then refinancing versus doing a construction loan and then refinancing.

Selling now prioritizes liquidity and growth opportunities, while holding benefits from long-term appreciation and rental income.This post does not create a CPA-Client relationship.

The reason I ask is because most deals I see on Crexi or Loopnet or anywhere else create negative cash flow under 7 or even 10 year terms with 7% - 8% interest rate.

Was that purchase money, rate and term refi, or cash out refi?

I purchase my personal investments to maximize their equity and hold long term.

I primarily invest in buy and holds, but I do a little bit of everything including fix and flips, airbnb's, mid-term rentals, and wholesaling.

If your goal is financial freedom, which is a long-term goal, not so much.Financial freedom is a long-term proposition, not a one-time event.

Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.  

These are not long-term rental properties, and our guests are traveling to the desert for vacation, not because they need a place to live for two nights on a weekend. 

I still attend local meet ups and talk to dozens of investors and am considering other strategies like Mid-Term Rentals or rent by the room.