If you own your own property and have equity in it you could always try for a heloc, most banks can do this with no issue, it is a loan but you would have the cash to purchase and close quick which is what most sellers want.

On the other hand, if the tenant does deliver the rent and we can get through the winter, then I would be in a better position from the financial and rental demand standpoints.  

I currently own a home with not much equity into it.

Most investors look to go into deals with some equity.

If I bring the price down to $150k, The return climbs to positive 1.06% return (annual! 

But also note the merits and the power of equity.

Typically if you have a large down payment of 20-25%, you can still find properties with positive cash flow in single family and you make money on the appreciation.I bought a newer Townhouse in home town Orangeville recently which is cashflow positive with 20% dp.I agree with Luc and Ming points, you have to be able to improve the property, either improve cash flow or increase property value with reno's.I have looked at multi family and retail net properties but have not found anything too exciting yet.

If your goal is cash flow (in my opinion) you're better off trying to buy with owner financing (contract for deed - land contract, installment sale, mortgage wrap, promissory note with a first lien holder position on the trust deed for the seller (if they own it free and clear), or sub2.

So best in that situation might be placing the capital with those parties and see how they source and successfully turn around properties for equity gains.  

As a landlord, with positive cash flow it is difficult to agree to sell the property.