If so, can you share with me some of the advantages/disadvantages that you've experienced?

However there are definite disadvantages.

As Marc pointed out, banks are not at any disadvantage, they are just too lazy to dig up a buyer who will pay more.

As a new buyer you're at a disadvantage because you're unproven.

We can keep this out of the recent SAFE Act/Dodd-Frank as a commercial transaction by matching the agreement to the under lying mortgage when the existing loan may have been made as an owner occupied loan, (use of funds should be required) comingling the use of funds may become an issue.The additional equity mat be agreed separately, as another principal part under the same agreement or as a second.Here is some reading on the DIL and use of the QCD. http://www.atgf.com/tools-publications/pubs/deeds-lieu-foreclosure-advantages-disadvantages-and-draftingI agree to that the DIL should be or might be done at settlement simply as a disclosure that the lender would accept a DIL, I'm sure it could be dressed up explaining the benefits to a borrower as that there would be no additional costs and deficiency sought.

forget to mention the disadvantages.

They all have their advantages and disadvantages, its really up to you to research and then decide which one works best for you. 

If any of you would like to discuss the benefits and disadvantages of DSTs, please let me know.

What have you found to be the disadvantages either way?

There are no advantages to a term lease with good tenants and only disadvantages with bad ones.With a term lease your tenants control the property with a M2M you are in control.