I'm looking to purchase my first official investment property, but I'm running into steep competition against cash buyers. 

Quality absolutely matters in purchase transactions, and cheapest isnt alwasy best.Last point, a good lender will take time to understand your situation and goals and will work with you to identify a strategy and timeline using your available options.

Purchase price: $1,150,000 Cash invested: $315,000 5 units multi family What made you interested in investing in this type of deal?

@Josh Edelman Are you purchasing single family homes ? 

It has low purchase prices still and it's appreciating rapidly.

The area will determine the quality of tenant you can obtain. 

I'm considering purchasing a property located at 243 Robbins Ave, Pittsfield, MA 01201 (link: realtor.com listing).

All purchased for less than 400$, cash flow positive. 

Purchase price: $213,500 Cash invested: $20,716 Short term rental on Table Rock Lake near Branson, MO.

@Mary Burns, There is no hard staute prohibiting the purchase of a property from a related party.