The drawback was the metal siding was a deterrent to higher end tenants and he charged less rent to get it rented.

But the main drawback is that it's all in the Cloud. 

Some drawbacks are being impersonal and not having a generic business card for everything.  

There's just such a huge demand for this type of thing right now that the deals get thinner and thinner (like just about everything else.)I think the drawback of Turn Key is that you're giving the margin you normally make as an investor to everyone else in the process.

Are there drawbacks to this approach (vs. quit-claiming or closing in an LLC and using commercial financing) that I would be wise to consider?

The ones that were almost ready or already being rented then only needed a facelift, and some new items are still ok but not as profitable as the properties that needed a lot of work.Another drawback of purchasing almost-ready homes is that we kept many furniture and decor items that we normally would not have added if the place was empty.  

Only drawbacks I have seen are the cash flow with many single family long term rentals aren't as high as other areas in the state. 

The only drawback is that there is no way to export the entire Database off all properties in the county with owner information, that is the problem i'm trying to solve.

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

The draw back to these loans is that they are more paperwork heavy than the other "portfolio" types of loans....but if you have ever received a loan on your primary home, it's likely that you will go through the same type of paperwork here with conventional lending.