Cash investing plan

[N/A N/A]

I've been reading lots for a couple of years. I'm abroad so have a good excuse for not investing yet.

I have met a group of doctors who are interested in US real estate investing. This gives me the opportunity to begin investing with a large amount of cash. I need to convince them of the specifics of my plan and would be grateful for comments and criticisms from the experts on this forum to improve my pitch.

My basic plan outline is buy decent neighborhood SFHs from banks for cash while the deals last in this buyers market, then refinance with local bank as soon as possible (maybe a year) and buy more rentals and repeat while prices stay low. All deals will cashflow because of low buying price. I will sell houses when price recovers (which could be a long time) and move to commercial investing. All this will be done in one large city with local expert help from realtors, lawyers and so on.

I'm sure that sounds over-confident from newbie but this is my pitch to the investors so it should, right?

So, what are the objections you would raise as investor?
Is this most efficient use of a bunch of cash in current situation?

Thanks for reading.

Jan Watson