Requesting Buyer to assist on Closing CostsWe requested the seller to offer cash towards our closing costs.

There is the those that have to sell and yes they are probably selling it distressed or a forced sale- but as you mention if you look at this listhttps://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2023-top-owners-list/These companies may have some strategic liquidations but they can ride this thing out.It’s the syndicators who promised people cash and took at short term debt because they played the lottery thinking they could flip a multifamily building thinking prices always go up and cannot now handle the debt burden.

And perhaps in that case, I am thinking to offer them cash for keys to vacate the property (After the property is vacated and condition of the property is verified) rather than hoping that this will get any better. 

Purchase price: $250,000 Cash invested: $40,000 Took a three bedroom ranch home and converted into two separate apartments with two tenants.

We have been fairly aggressive with price negotiations and seller concessions to contribute towards costs and improve Cash on Cash returns. 

I need to buy a property and leave closing with cash in my pocket.

I did a cash out refi and took out 100k!

The rate difference between FHA and Conventional is actually over 1% right now for Multi family propertiesCurrently the rate offered is 6.75% and 193/m in PMI (private mortgage insurance)That makes the payment with taxes and insurance roughly:$3453/monthTaxes were $3820, and insurance is $1800/yrCurrently this building can rent each 2 bed unit for up to $1800/m with tenants paying all utilities.All in cost to close is: $71,414.64If you rent both units for $1800/m you can expect gross cash flow of $147/mThis is the reality of buying a turn key duplex in the area using todays rates and prices.I want to stress, that this is actually considered a great property and deal in todays market for the areaYes, prices are high, and so area rates...My goal is to show what is actually going on.

There are many different successful strategies depending on your cash, borrowing ability, rehab skills, time, local contacts, or lack of any or all of them.

Cash-out now or hire someone more competent to handle your affairs.