Uncertainty in Case of Disputes: Without the backing of a banking license, resolving disputes or seeking recourse for unauthorized transactions or errors may be more complicated.

If you're not familiar with the sales process for this property type, doing your own due diligence, the right lenders to use  and what to look out for, how to negotiate and how to work with commercial brokers, I'd recommend having a good buyer's agent help you out on a few transactions before going straight to the listing agent!   

The point being is that a lender that gouges a client is either getting their capital at a higher cost or they view the lender and borrower relationship as transactional and don’t see the lifetime value of the relationship, in my opinion. 

The only change is you're not working with a bank for this transaction (and, there are so many benefits from that).Ensure you have an easy and smooth way to pay your monthly payment to the seller/lender since you'll be working directly with the seller on that rather than a bank.

Multi-family properties are a much stronger investment in Tampa compared to condos, especially because of the headaches with condo HOA fees—out of the 3,500 transactions I’ve done over the past 20 years, the only long-term losses I’ve had were with condos.

Not to say every off market transaction is a bad deal, or to imply that every listed property has realistic pricing expectations, but there is more motivation to move a property that is listed.  

All the purchase transactions i deal were investor centric and Passive income oriented.

Most PMs offer "bookkeeping services" as a statement showing all the transactions per property they are managing.

We can't disclose as we are working on off market transactions.

We've had bookkeeping clients with complicated structures that apparently protected them to the maximum degree but they didn't abide by the structure when conducting transactions in their business daily (lots of unintentional commingling).