That’s an incredible deal for the investor...maybe this isn’t as much of a niche market as I’d have hoped! 

To give some sort of background I’m 21 years old with a credit score above 680.Thanks guys!

David cash purchase can get you a refincnace with cash out as high as 80%.Your fico score will also come into play here.

Recently applied for a loan and was denied based on credit score.I have never had a credit card and the only thing affecting my credit score are some old medical bills.Any ways I can build my credit in a short period of time without getting a credit card?

@Kimberly McCall if you've done 4 deals, you should be looking at something closer to 15% down, 10% - 10.5%, and 2-2.5 points but it also depends on the property type, purchase price, & your credit score. 

My credit score is pretty high, like in the 800's.My problem....Last year, I decided that I wanted to try to buy more property so I applied for an equity cash out on my rental.

Your LTV will affect the rate and your credit score can affect your interest rate. 

@Jacob Humiston the VA loan is an incredible product that will allow you to get into a property with very little money (if any) out of pocket.

BUT it is just part of the beauty in the journey because with each perceived "failure", we really learn how to get better and better with each transaction.And a $200 mortgage is stilll INCREDIBLY GOOD. 

It's been incredibly useful and given me a lot of insights on staying proactive.