In this case, one of your advantages also has some drawbacks.

So both options have the same drawbacks.

Anyone see any drawbacks to this approach?

@Salvador Kalil, there are benefits but also drawbacks as @Matt Shields pointed out.

Dane, I do not have a specific lender that I personally know in Orlando, Florida, that I can recommend to you however, the advise I would humbly give you is not to limit yourself to just lenders that are physically located in your area and definitely do not limit yourself to working only with banks and credit unions.Banks and credit unions offer real estate investors some major benefits (lowest rates and very good terms)  but their are a few major draw backs (limit on how many properties they will allow you to finance, lengthy times to close, a lot of documentation). 

Only drawback on them right now is they are overpriced [IMHO].

Unless they filed for bankruptcy which has it's draw backs. 

This isn’t an issue for me but I can certainly see how it could be a significant drawback for some investors.

There's a wealth of articles that describe their poisonous gas emitting drawbacks.

Drawback: I would need to submit to them all the rent rolls from all my tenants and they would know how much I charge everyone ... etc.