But you can easily contact your servicer (who you send the monthly checks too) and they can assist. 

You can likely find some of these close to where you live and can more easily find deals on these.

I could easily make 10-20% on a rental property.

Your tenant's friend will probably just draw it from whatever nearby circuit thay can tap into most easily.....So running a new 14/2 cable from the main panel will probably not be easy unless it is really close.

You could easily niche into that via even just the legal realm and would probably never have to step outside of it.

You need to make sure that your property is easily financeable if you decide to sell it in the future and any future buyer can call out non-permitted items and actually report you to the building department or, at a minimum, ask for seller concessions.

If they are professional, they can explain this quickly and easily.

Sellers realize that offering the BAC means that their property will be more easily marketable to the highest number of buyers and have the best chance of fetching the highest price, that's why they choose to offer BAC. 

They also have a good understanding of different lenders' appetites, and thus can save time by filtering out lenders that won't be competitive. 

It can easily take 6+ months to find a motivated seller. - Just be prepared, because a motivated seller typically has a property with issues you need to be sure you can solve.