But it was not done traditionally.  

My mother handed me Rich Dad Poor Dad in 2000, when I was only 14, from then on I always new that the proverbial rat race wouldn't suit me well, and in many ways it transformed my financial acumen moving me from a non-investor to a passive investor at a very young age.

The seller has significant equity in each property and is offering to carry a second (presumably a portion of the down payment).My question, forgetting about the potential seller carry back for a second, is how will a traditional lender (likely portfolio) look at the forgivable NSP mortgage?  

Syndicator put the deal together end-to-end (finds deal, negotiates, closes, sets up LLC, works with lawyers/banks/accountants/management companies, etc)I have a good relationship with the sponsor and am simply looking for an opinion as this doesn't seem to fit your traditional syndicated deal structure.Thanks!!

My question is:What are the benefits/drawbacks of selling to the HRA vs selling it via traditional routes?

They have cash, you can assign your contract to them, and they can complete the deal within your 30 day closing you set-up with the seller.You can work with people who will use traditional financing and be owner occupants, that is called wholetailing.

If the seller of a pre-foreclosure has enough equity to do a traditional sale, then the bank doesn't have to approve the sale and the contract could be assigned.

Just some food for thought, REI is not a get quick RICH scheme.

Ive read the UBG several times, the guide to screening tenets, bought and read a copy of Rich Dad, Poor Dad, and pretty much anything else I can get my hands on.My plan is to follow a buy and hold strategy, and possibly throw a flip or two into the mix.

I read several of his legal-related real estate books in the Rich Dad series and liked his approach.