Disadvantages include; board of realtor dues, continuing education requirements, regulations, etc.Having a license is not required to be an investor.

http://www.atgf.com/tools-publications/pubs/deeds-lieu-foreclosure-advantages-disadvantages-and-draftingThis might help, even if your county judge allows it, there can be title problems, I suggest you follow this in all states. :)

The disadvantage of the balloon is that it carries the risk of them not approving you in three years...and it likely comes with additional fees at that time.

I was wondering what type of disadvantages or risks comes with using the BRRRR strategy?

The new laws in NY put you at a disadvantage.

If they can't then they are disadvantage by the tools that are available to other agents.3.  

Otherwise, it’s just another method of marketing property with advantages to the seller and disadvantages to the buyer.

Quick disclaimer, I'm not a lawyer so this is just a personal opinion of another investor/wholesaler.LLC has it's advantages such as asset protection and tax benefits and disadvantages such as cost ($800 in CA where I live) and following all the required protocols, docs associated with it.

Disadvantages: higher interest rate then other methods, but less than a credit card, credit reported, reduced operating leverage and ROI for the leveraged asset (prefer paid off properties if you have them in your portfolio), full docs required by lenders initially.Another favorite method (advanced or for well heeled investors with capital) is a cash collateralize loan against a cash account in the bank.

Hard/private money is certainly out there though but they each come with their own advantages and disadvantages.