Have heard some PMC's allegedly offer other agents a ridiculously small amount like $200. 

I would also ask them about cash for keys since I would initially offer the tenant this. 

Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

@Vinny MuliIf you have equity built up, can you do a cash out refi?

I currently live in it as my primary residence but had plans to eventually rent it out and then cash out refi once I reach 20% equity in the property.

@Paul Whitehurst Without equity or cash it is very hard to scale.

Why not take his name off the LLC and put it in your name now while the LLC has $0 of value (or whatever nominal amount your articles of organization or operating agreement say that you contributed)?

Purchase price: $90,000 Cash invested: $60,000 Buy and hold that I still have to this date.

This is why many buyers choose to pay cash even if they don't have to as they want their cash to be invested indeed, especially given the current inflation.

It is not typical that you will find SF deal after deal, and if you are actively marketing for distressed sellers many...most...will want cash sales.