If cash flow is tight, a 20% down payment lowers your mortgage and eliminates PMI, but a smaller down payment keeps more cash for future investments.

Sellers Get More MoneyWith wholesaling, sellers often need to take a low cash offer.

I only wanted to clarify that almost everyone who mentions their equity means “cash after paying off their loan”, not their gain.

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. 

Leveraging your equity through a HELOC or cash-out refinance can be a smart move, but it depends on your risk tolerance and goals.

Quote from @Clayton Silva: 2nd position HELOCS on investment properties are typically capped at 70% LTV and have rates ranging from 9-11% just a heads up unless you use a local credit union where you have cash on deposit with them. 

Access to Cash Value: A properly structured permanent life insurance policy (like an IUL or whole life) can build cash value that you can borrow against for property acquisitions, renovations, or even as a safety net during market downturns. 2.

Additionally, you can still find the 1% rule (aka positive cash flow) AND you get amazing appreciation potential.

I was once in a similar situation low cash flow, lots of desire to get out of my parent's place, and the temptation to jump on a deal that seemed too good to pass up.

It would be very difficult to find anything in Florida that cash flowed at 90% leverage though.