Every market has it's advantages and disadvantages.

Disadvantages - more risk only one income stream when you go vacant, cap ex cost more because it’s not shared by two or more income streams, generally lower cash flow than a multi family. 

The reason i'm asking these questions is because after researching direct mailing campaigns, it looks like most people are offering to buy the house in cash as is and it seems like that would put me at a massive disadvantage since I would like to have an inspection before buying and I don't have the cash to buy it outright.

Investing IRA funds not long term buy and hold has some disadvantages.

I know there are many advantages for doing that, what are some advantages and disadvantages of using your own money?

If so, please tell me about your experience.Also, I’m wondering if there is a tax disadvantage here.

Im guessing there is a disadvantage otherwise everyone would like to have the option to draw from it

I think the majority (not all) of people who say they can't pay really can.I think about the following when given a situation like yours:  If you give them the free rent, then why not head down to the local shelters and find other disadvantaged people and offer them free rent as well? 

I am working on this great deal, owner is willing to finance it for 4.6% and I am trying to figure out what are the disadvantages of doing this deal other than over paying? 

Not knowing what to expect is a huge disadvantage that will eventually have you quit.Want to know what this blonde monkey would do?