I caught the REI bug shortly after graduating from college as I saw the potential wealth building opportunities it has to offer.

You go scouting for them, and if they like what you have to offer, you assign the contract to them for a fee.

They have the money to let them sit empty and are willing to offer free month or more to get people int. 

I made sure that the price that I was going to offer (close to their asking) would be able to work as a rental. 

Not sure if I'll have any "new" information to offer you but saving, learning (podcasts, books, etc), and networking (join a REIA!) 

My advice would be to offer whatever your "best price" would be, regardless if there are other offers or not.

I do not have cash to offer so should I look for cash investors in advance?

If not, some local hard money lenders are starting to offer 30 year loans for investors. 

If anything, we can help you in a multitude of ways, so whatever you do decide, we can be there to offer expert advice!

While two reps from the same firm will quote you the same rate, their ability to execute the loan can be night and day different.In regards to pros and cons ... think of the lending world as falling into 3 primary buckets: 1) traditional banks and credit unions (ie, Wells, BofA, Chase, etc), 2) mortgage banks (ie, Caliber, Quicken, Fairway, etc), and 3) mortgage brokers.Traditional Banks: (they do loans and hold deposits)Pros: because they tend to do such a large volume of loans, they are able to offer low rates ... they have the ability to do portfolio loansCons: very slow turn times - if you need to close quickly, they're generally unable to perform ... they tend to use national appraisal management companies and appraisal issues are common in competitive markets.Mortgage Banks: (they only do loans - no deposits)Pros: have the ability to close loans much faster - some of the local mortgage banks that we work with on purchases will routinely close loans in less than 14 days ... they often setup their own appraisal management companies and are able to improve the appraisal quality by ensuring the use of local appraisers.Cons: while they should be very competitive with their rates, they're not going to be the absolute lowest ... portfolio loans are generally not an option - they need to sell their loans right away so they can get that money back to lend it out again.Mortgage Brokers:Pros: they will have access to a bunch of different lenders and loan products, so they can submit your info to whichever one is offering the best terms at that moment.Cons: they have no control/influence over the underwriters or the timeframes ... they're generally forced to use national appraisal management companies, so appraisal issues are more commonHope this is helpful and good luck with the refi!