It will allow you to roll existing retirement funds into the 401k (save Roth IRA) and self direct those funds.  

@Manoj Mathew Is this allowed in the PPM-legal documents that your funds can be used for different assets/projects than were defined? 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

The first warning I always do written (via email), second warning is an official letter on their door saying they're violating their lease to allow other residents the right of enjoyment (if you put this in your lease).

Although in the last couple deals most have come out as 506C deals where only accredited investors are allowed, there are still 506B syndications where you can be a sophisticated investor (self proclaimed) so you don't have to be accredited.

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

Do you mind sharing the name of that type of loan/lender that allows you to have the seller carry on a second position?

Can't say I enjoy real estate, but enjoy what the money allows me to do :)

However, after you get some experience, you probably want to get a Private Lender since this will allow you to keep the majority of the profits.

However short contract period allows you to pursue other avenues to sell if the wholesaler can't execute on the terms they offered.