No tenants or cash flow.

Purchase price: $180,000 Cash invested: $42,000 This is our first investment property.

And how do you plan to pay for the build, cash flow it or construction loan?

This way, the seller gets 87k in hand, won't pay nearly as much taxes up front on a huge cash sale, will still be generating about the same amount of income as he is today, consistently for 20 years without the headache of managing it or insuring it.  

Cash out refinance is always a risky endevoure as well, works well if you have a great buy or true value-add play. 

Purchase price: $220,000 Cash invested: $32,000 Single family sitting on 1/3 acre with a large 4 bay garage with Garage apartment to be built out.

I’d rather take the cash and invest in my own deal or bring on a partner.

The seller is asking for $40,000 down which I am able to pay in cash.

Purchase price: $170,000 Cash invested: $32,000 I bought this as a duplex that a triplex. $650 one unit and $600 the second.

My biggest concerns are - to find a deal and then actually get a cash flow from day one.