Unfortunately we have our own expenses such as bank payments, taxes, insurance and maintenance that require us to rent the apartment at the set price.

I have my eyes set on a property (Bank Owned) that would only accept cash offers.

Try to keep searching for local banks or credit unions (portfolio lenders).  

Also, finding a bank to do 20% down on a house that cheap will be tough. 25-30% down will be more common.

If so, begin working with local banks to determine who best to refi- cash out on your current property to fund the down payment and rehab of your next property.

You can come across several value add deals that you can buy with the cash up front, perform a necessary remodel (I say necessary meaning you do not have to go above and beyond to get a full 75%-80% bank loan), occupy with a tenant and cash out refinance.

The bank took over.How did the bank look at it?

& That is what I want to do is a BRRR on a multi family but I honestly haven’t got myself to go talk to a bank or even really look yet, I am actually in Denton county!!

If it is accepted then find your financing here with people who can help you or through your bank. 

I figured since I owned 100% equity in the house and I am only seeking 65% LTV I would have no problems having a bank Cash out Refinance.