If using a lender this is a non issue.

If I were the seller's agent, I'd be looking for a large non-refundable deposit.What the seller's agent is trying to prevent is accepting an offer from what turns out to be an unqualified buyer. 

When you're buying non owner occupied properties you're going to have to put 25% down on the properties.

@Kevin Riven because in Phase 1 you can get decent deals and lending is plentiful, in Phase 2 the properties you own or will purchase are about to increase steadily in value, in Phase 3 the properties you own or are about to purchase might decrease steadily in value, and in Phase 4 the properties you wish you could purchase will be very difficult to acquire since lending is almost non-existent.

For me, SFH real estate investment is a non-starter and I'm thinking the same for you too.  

@Luke Simonetti Non owner occupied will be 20% down. $24 per month CAPEX is $300 per year.

They usually have non-recourse debt requirements so that a mortgage on a 1031 property can be absorbed easily. 

@Macall Smith The max LTV you will get on a cash-out refi will depend on the type of loan - conventional, non-agency, bundled, etc. and seasoning.For a conventional 30 yr fixed loan you can get max 75% LTV (1-unit) and 70% LTV (2-4 unit).

It is a great way to accelerate the growth of your retirement savings.The refinance will need to be non-recourse. 

Then you can cancel the deal citing non-loan approval and ask for your deposit back.