The benefits are you get to bring less to closing, the brokerage doesn't take a cut of the commission (assuming you haven't capped), and since the commission is applied to the closing costs it doesn't count as taxable income (I would consult an accountant on the last item I mentioned though I am not an accountant). 

Hi @Paul Winka, former underwriter here.Straight from the Fannie Mae Selling Guide:The following property types are not subject to these limitations, even if the borrower is personally obligated on a mortgage on the property:commercial real estate,multifamily property consisting of more than four units,ownership in a timeshare,ownership of a vacant lot (residential or commercial), orownership of a manufactured home on a leasehold estate not titled as real property (chattel lien on the home).Therefore, it would all depend on whether the properties you currently have are considered commercial real estate.A lender would have to take a look at the financing documents from the 15 commercial loans to see if they are truly considered commercial loans.Unfortunately, it is not a cut-and-dry answer but there certainly is a case to be made that those 15 would fall under the "commercial real estate" exemption.If you would like a referral to a lender, I would be more than happy to provide one.

It shows legitimacy, professionalism, and a cutting edge mindset.On the flip side we’ve been extremely affected by wildfires and the only spot that’s burned in the county is Happy Camp, besides a few smaller fires.

The acute housing issues in the West are the underlying issue, not interest rates or oversupply. 

I am now acutely aware of how vulnerable you can feel being a out of state investor.

@Michael ReillyThey are in a cute little neighborhood in James City.

you had to have actual cash down and you have to acutally qualify.. in reality HML in those days did the 80 10 10 s in our area that's how I bought my first home.. 10% down saved up the 10k for the down stroke.. ( lot of money in 1976.) 

The last two won't take a cut.  

The biggest con is obviously the microeconomic risks are more acutely affected by changes in employment by one of the local major employers and the issue of lack of opportunity for appreciation since there arent tons of buyers on the market for these assets. 

Just to be clear:   - PM route = they take a % cut of what you make that month  - Arbitrage Route is like Master Lease where they pay you fixed fee monthly, and they make whatever else they can on the top.