Secondly, from a practical standpoint, title companies disdain quitclaims and will frequently require that a proper deed be obtained instead.

You are put in the position of having to accept their title insurance (which frequently includes exceptions) or losing your deposit. 

Downsides are you will have naturally high turnover and must account for the costs involved in those frequent turns - I did not factor this in when I first started.  

Preach it, @Joe Splitrock...it seems that politicians who frequently tout legislation to confiscate more wealth from businesses have had little to no practical experience running businesses, and don't always appreciate the impact on the free market.  

I'm up in that area pretty frequently.

I know this may not be frequented, but it still makes me consider venturing off into that lane.

Haha...we do frequent Abuelo's pretty often!

Terms I see frequently in Chicago are something like this:90% loan on acquisition and rehab2-4 points11-14% interest

I worked in law firms for 1/4-century, where I was the real estate specialist, and this happens more frequently than not. 

@Steve S.When the intention is to BRRRR, I frequently recommend asking your loan officer to quote you a rate where the rebate covers the closing costs.