It's simple.
You bulk, you need to eat a surplus of calories. Your body is building muscle and it uses the extra calories for this purpose. All of a sudden you're doing cardio (lots of it) and cut your calories dramatically.
Now your body is wondering, WTF.
You need to build it first, maintain it for some time and then cut the fat down.
You going from bulk to cut in the same cycle is going to leave you at square one. Yes the AAS is there to help preserve the LBM but you're going to lose some of it no matter what you do or how much you run.
Doesn't it make sense for your body to adjust to the new weight and let it understand that this is new growth and you need it instead of yo-yo dieting?
To truly make progress, you need to bulk, maintain, cut and then maintain. This way your body is adjusting to the new stresses you put on it a lot easier than the yo-yo thing you're mentioning. As you get leaner the bulks won't leave you with so much extra fat so the process from going back and fourth is much easier and can be obtined in a 10-12 week time frame (with the help of a good coach).
You can do it, and you'll drop some BF but in the long run you'll have achieved nothing substantial.
Just my opinion. Does that make sense?