There are definitely pros and cons to each so I figured I would just lay out a few benefits and personal thoughts: Small banks/brokerages:Pros:- Some regional knowledge of the market- Possibility of more creative lending guidelines with bank specific programs- Sometimes they have competitive rates for their areaCons: - weak balance sheet (more strict on some guidelines, no wiggle room, inability to be flexible or grant exceptions because they cannot afford to hold less than perfect loans)- Can't scale with clients to different markets- Usually limits exposure to individual investors (they don't want one investor to be too big of a portion of their balance sheet)- Lack of experience with multiple solutions (tend to have 2 or 3 loan products they sell and are too niche to provide tailored solutions)Large banks/brokerages:Pros:- Large compliance departments that understand individual market guidelines (typically each state has specific lending guidelines that augment the national baseline)- Ability to scale into multiple markets with same lender (licensed in many states)- Impossible for individual investors to "outgrow" a large bank's balance sheet (not concerned with one investor's concentration)- More lending solutions available for different scenarios- Often comparable or better rates given the game is volume basedCons:- Can be more difficult to get fast responses if the bank/brokerage does not have good follow up systems in place (or if the underwriting/processing staff gets overwhelmed)- Bad large banks can feel less like a relationship and more like a cog in a factory (less personal)Overall, I have worked from both and worked with both as a loan officer, branch manager, and as an investor/client myself. 

I have looked for a way to get this done which seems like it's impossible.

People need to realize to get class action status is near impossible in many instances and the attorneys make all the money.

(Yes, Colorado Springs also allows them in non-owner occupied homes but with limitations that in practice make it nearly impossible.)I still think this change is good policy, but for anyone wanting a vacation rental in municipalities that have a primary residence rule, this doesn't change anything.

What I have been guiding my new clients toward is to find deals that cashflow (not too difficult if self managing, tougher but not impossible with management). 

@David ChanceYour concern about tax ramifications is impossible to address without knowing your numbers and your specific situation.

If you try to analyze the whole country as a whole, its impossible and not accurate.

@Marquez DavisNear impossible as hard money is for a year: what is your exit strategy ?

I don’t know of anyone personally who put the effort into getting the money back guarantee because it’s designed to be an almost impossible process. 

And, when a great deal hits your desk, you know that it is virtually impossible to say no.Is anyone seeing deal flow pick up?