Fannie Mae or Freddie Mac

[Matthew Cohen]

Hello All, I am exploring different financial options for my first property. I came across the concept of Fannie Mae or Freddie Mac loans for distressed property that I can fix up, hold and rent. My only concern is I do not see a lot of people going this route and wondering if there a specific reason for that. I understand these loans require more paperwork and a little longer to process, is that the only downfall or is there something else I'm missing here? 

Thanks for the advice!