A cash purchase is basically that, no one accepts suitcases full of cash anymore, but no one will check where it came from.Bank loans of course are MUCH more strict.

My wife's last day at work is this Friday the 13th (fitting), so our newly formed LLC will have its captain and we will be accelerating our research and outreach to find some deals.

@Jim K. finding a replacement renter would of course be subject to the landlord screening.  

And of course when I stated my opinion.

In what situations do lease options have a good fit?

the cons of this building is that it has tenants that are smoky and stayed there for long time, some of them are paying through government assistance which I really don't know if this would be a bad idea or what, the unit that might fit our growing family as we are now three and expecting a baby soon!

I would also recommend Peter Harris's free online course on Udemy about commercial real estate.

Of course, since I buy "off market" and cash flow the properties I'm particularly happy.  ;-)Today's Newspaper***********************************"Metro Phoenix homebuilding hits decade high"New houses are going up in the Phoenix area at the fastest pace in 10 years, and prices are climbing faster than they have in five years.Buyers are again heading to Valley suburbs farther out to find houses they can afford.By the building numbersMore than 1,950 new houses sold Valleywide in May, and the pace of sales for the year is 18 percent ahead of last year, Belfiore Real Estate Consulting reports.May was the best month for new house sales in metropolitan Phoenix since March 2008, according to RL Brown’s Phoenix Housing Market Letter.Brown reports the median new house price in the Valley is up almost 3 percent from last year to $330,000.

Thinking about starting with Georgia, but open to any other state with cities that have price-to-rent ratios of 20% or higher, turnkey median home price ~$225k, and where the pre-licensing real estate courses are available online. 

Of course you can try, but forget the goofy “hand written” letter idea.....that’s meant for a more ignorant target.