If you can buy owner occupied property at the lowest down payment and lowest interest rates, occupy for 2 years and move on to the next for a few years...you will have strong winds behind your back, in terms of cash flow and equity buildup. 

We are onboard with multiple purchases, and are extremely pleased with the cash flow and availability of our manager to answer our questions. 

The problem is I'm not cash heavy at the moment.

Instead of walking away, I saw it as an opportunity and IMMEDIATELY submitted TWO simultaneous cash offers.

There is a lot of demand for Section 8 tenants, but the process can take 2-3 months so if you want to rent it out quickly, I would try and go with a cash tenant. 

You'll pass on most but you'll cherry pick the top 3 - 4 projects and hopefully you'll get a 75% - 80% cash on cash after tax return on the capital. 

Great neighborhoods, great ARVs but the number off the MLS will not work and investors with deep pockets make cash offers that can knock financing offers out. 

Has anyone offered all cash then immediately refinanced to get the cash out? 

There are conventional loans as well with low down payments and the PMI falls off once you reach 20% equity.In this higher interest rate environment, lower down payments does make it harder to cash flow, so just keep that in mind.

I am going to try to have the current tenant this is occurring to take me to their bank so I can get the bank statements directly and be sure I am not being played again.