Likewise, contract rates and per diems for nurses (I'm using the term nurses generically) are being reduced in many areas or contracts cancelled mid-contract.

If I don’t hear from you in the next 10 minutes, I will assume you aren’t attending and I will move on to my next appointment.Using this system as dramatically reduced any wasted time I used to endure as part of the showing process as well as giving me data about their timeliness/responsiveness/respect for others' time.At the showing, I collect their completed application (sent via PDF prior or filled out on premises), scan their photo ID and last 2 pay stubs.Then, I do some digging around online (social media, court records, Google) and if it looks like they are representing themselves to me accurately, I contact them to set up a "contract to hold" meeting - usually the day after the showing since qualified applicants need to be "closed" ASAP.

This takes a little more work, but it's the most fair and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

Unless you find an angel investor/partner, etc. the only way that comes to mind immediately is to work the other end and reduce expenses so you can generate the savings. 

Reason being is they are being overbuilt, and when the # of visitors goes back to normal but there is a lot more inventory, those who bought early can easily reduce their prices and still cover their costs- those who bought at inflated numbers cannot reduce their pricing, if they do they will be cashflow negative.

That being said, typically a refinance of property in a syndicated situation is used to either (1) increase the current cash flow by reducing loan payments through either a lower interest rate or a longer amortization, or (2) increase the principal amount of debt so as to be able to distribute capital (tax free) back to the passive investors.  

It is simple to reduce the size of a group of images if you are going to email them.

I get greatly reduced closing costs, no credit pull, I like interest only payments, no origination fee. 

The main issue is DSCR wont work out so any lender is going to require massive amount at closing to offset or reduce loan amount. 

Thanks again to the respective contributors, and keep 'em coming:Financing / leverage allows for faster growth.Financing allows for a much larger portfolio (for a given amount of cash), with lower positive cash flow per property but more positive cash flow overall.Having some percentage (say 50%) of properties free and clear (100% equity) can act as a backstop to protect against downturns and other bad situations.Rates are low right now so now is a good time to borrow as much as possible.Starting with cash and then quickly moving to borrowing can reduce the complexities when first starting out and building a team.Using financing leaves more cash on hand to deal with unexpected expenses.A large multi-unit benefits from economies of scale, which supports the argument to leverage existing cash to finance larger cash flow (ROI) as a percentage.One "con" for large multi-units is that the market for multi unit properties should I need to sell is tougher because of limited buyers.Gaining two or more years of proven rental revenue will be considered as good as employment income by smart lenders.This is a valuable list that I think you could almost make a book out of, with each bullet being the topic of a chapter.