If this is one of your properties in the recently burned areas meaning somewhat close to Sacramento I would call Gary Link he is a true Eviction Machine.

You say one thing publicly while in reality you do nothing for your clients behind closed doors.

You'd only need to bring the difference between the balance on his loan and what you agree to purchase the property for and your share of closing costs.The term is "Subject to" which is short for Subject To Existing Liens, Deed of Trust, etc.

Worked as my own agent on this deal and having the cash on hand to get it bought was a huge lever in getting the deal closed.

.: @Michael Tompkins get a HELOC I suppose a HELOC makes more sense than doing a cash out refinance since I would keep my current interest rate and wouldn't have to pay closing costs.

Quote from @Richard Hoyte: What is a good and or acceptable amount of money to have saved up before buying your first rental property I'm aware this can vary depending on the state/area but is there a rule of thumbThank you ahead of time  Hello Richard, Your down payment amount will have a lot to do with this.If you are going with the minimum downpayment of 3 - 3.5% , you'll want to have at least a total of 10% of the purchase price (to also account for closing costs) + 6 months in reserves.

One customer said they were uncomfortable with the neighborhood and didn’t like seeing the other home so close to ours.

For example if one was close to retirement they may find themselves in a much lower tax bracket. 

Closing costs will be less with this route. 

They accept financing so all cash is not necessary and we are asking them to paying for closing costs.