Once I built up enough cash, then I became a buy and hold landlord of single-family homes. 

So, with no foundational knowledge of real property, and no capital, his only alternatives are (1) “bluff” the homeowner into thinking he has the money and intent to close the purchase himself and or convince the homeowner he has an extensive list of cash ready interested buyers (“partners”) with whom he’s done dozens of prior deals or (2) pack up shop, write off the money invested in mentoring to a worthless investment, and decide IF real estate is right for home.  

Cash out refis ok, but may result in slightly lower loan sizing. 

They have some low down payment 1-4 unit investor programs that can reduce the cash needed (equity line amount) to close.

In your shoes, it might be simpler to stay focused on grad school and use your cash to lend to other investors or take an LP role. 

They also allow improvements (with documented evidence) to the property to be backed off the sales price for basis.If you do not need the money and don't mind the cash flow, consider owner finance and carry it out for years.  

Do you want to try to make some cash flow or secure an asset for the long term so that maybe you can get some friends to rent rooms from you?

Cash flow needle in the haystack!

Well I have a deal under contract and I have a cash buyer.

I paid $307k cash and spent another 30k + to fix it.