Few people have no clue what is or how it works, I was just reading today that the cannabis growers that will be trading BILLIONS of dollars in CA, cannot deposit those funds in traditional banks, therefore; many will be using Bitcoins and other digital currency. 

Rates are typically higher than a traditional cash out refinance, however at least you are not getting the full loan amount + you have the flexibility to draw/tap in the money whenever needed.

I have also helped a variety of both local and OOS investors buy in the metro using owner occupant and traditional investor financing.

So if you are buying a property the traditional way, using an agent, you won't usually get answers when it comes to the condition.

The process is pretty simple, but it does involve extra steps compared to a traditional rental.

Some use them as rentals.the biggest reason for doing things this way is a traditional bank won’t loan on  property that won’t appraise at their desired price.

The way I've traditionally used them (i.e., simply transferring from AmEx to Delta SkyMiles), they're only worth 1%...well maybe a bit over 1.15% because I also have a personal Delta AmEx which makes mileage tickets come at a 15% discount. 

As for finding better financing terms, look into portfolio lenders or credit unions—they might offer more flexibility than traditional banks for investment properties.

Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.

While it provides a steady income stream and potential appreciation, it demands active management, thorough tenant screening, and may involve higher vacancy risks compared to traditional leases.