My wife and I have obtained three traditional loans and one lease with the option to purchase, resulting in most banks turning us down based on debt to income (non-portfolio lenders). 

The benefit is significantly less red tape compared to working with your traditional local banks who also do new construction financing.

I've done a lot of wraps and subtos and highly prefer the seller-finance strategy for a lot of reasons, including offering the opportunity of homeownership to those otherwise rejected by traditional banks.

Traditional bank financing.

Right now, it is incredibly tough to make even a few hundred a month with traditional strategies.

US, UK, Australia and other parts of the world are more for "traditional" investing in real estate for capital gain.

Quote from @Karen Smith: With more investors turning to private money lenders for faster funding, what benefits have you seen from using private financing versus traditional bank loans? 

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

I am trying to calculate my returns over a 10-year period using the rent-by-room strategy, which results in significantly more cash flow than traditional rentals.

I bought it because it was supposed to be easier to keep up with than traditional, but I've had to rebalance the ph myself several times.