Seems like his option will be to buy it with a conventional loan with 5% down.

Well, a lot of life happened and now I am getting back to zero no debt and I'll be renting for now and I am considering a duplex to buy cash or maybe land and some sort of unconventional home but still purchasing cash.

Then refinance at 80% and buy a few more and do it again. 

Last thing to consider is if you are buying a new home, will you want to do 100% financing and will you have the remaining bonus entitlement to do so.

And using the process buy a new property or properties that you also intend to hold for investment use.The issue for you might be that you purchased this property with the primary intent of selling. 

Investment Info:Large multi-family (5+ units) buy & hold investment in Tuppers Plains.

You are still exiting with a refinance and thus the terms wouldn't change on the exit whether you are buying in cash and then refinancing versus doing a construction loan and then refinancing.

You will likely have your license and be able to buy/sell.

Many are buying properties, doing minimal renovations to keep their crews busy, and selling with small or zero profit margins.Cash buyers are a priority.

First thing is to decide if you want to flip or buy/hold.