It lets you work the mid term rental strategy renting out furnished properties by the room and helps achieve the higher rents your looking.

Whether you're exploring multifamily properties, looking to connect with local investors, or seeking advice on your investment strategy, there's a wealth of knowledge within the BiggerPockets community to help you along the way. 

Sounds like this is your first time moving forward with the BRRRRR strategy.

2: Does purchasing a house 100% cash seem like a good strategy for my available cash or is there something else I should be thinking about?

While there is a chance, typically these need to be win-win situations for both parties

Cost segregation has been a major player in tax strategies for real estate owners by reclassifying assets that have a shorter useful life and can be depreciated over 5, 7, and 15 years from the nonresidential or residential properties with a useful life of 39 and 27.5 years, respectively.

It all boils down to finding a lender with a product that matches your investing strategy

A potential homeowner—with multiple financing and inspection contingencies—didn’t have a chance of winning the contract to buy a home when competing against the no-contingency cash offer of a fund.

One strategy to consider to boost the rental income is to rent out by the room. 

However, you can make certain properties work depending on your strategy, implementing creative financing strategies (seller financing if they have 100% equity usually), to keep your debt service lower.