I don't think you will get much of a break on the purchase price, if that is what you are asking. Waving a cash offer in front of an individual seller may be beneficial, however, institutional sellers do not have the same motivations, and they rarely move swiftly. Institutional sellers look primarily at the likelihood that the transaction will close. A buyer with a 700+ score, and financing with a reputable lender has a strong likelihood to close, also.
A great option for the cash buyer is to have a great real estate agent who knows what is happening in the market. A large market like Sacramento will always have several deals that fall through, and have institutional sellers prepared to close quickly. Find these deals, and JUMP on them with your cash.
There are several possible scenarios for you.
How many properties do you own? If you currently have only one home, you may still be able to find FHA financing on a second home as long as you only have FHA financing on one property, and plan to use it as your primary residence. This way you would only have to put down about 3.5%
You mention investor. If you have the cash to buy a home outright, you may want to put 20% down on 5 different homes, and have several income streams. The trick here is to have each property contracted to at least a one year lease, and you may be able to use this as additional income to support the purchase of the next property.
You and your investor, or mortgage agent, should be able to figure out what is best for you.
It is a great time to buy real estate!