Is it done this way due to some regulations or because the developers want to streamline the sale process?

The type of collateral, the status of the local real estate market, the strength of the borrower, the terms of the Note (rate, term, payment amount & frequency, balloon, subordination, etc), the payment history of the borrower (seasoning), compliance with origination regulations, with or without recourse.  

Also be aware of the new regulations taking effect Oct. 1

Be careful that the municipality doesn't label this sort of occupancy as a hotel or rooming arrangement, where some different local regulations might come into play; Philadelphia has a hotel tax that you would not be happy paying, for example. 

The brokers simply know far, far more about real estate, they are backed by a powerful industry association, enjoy the blessing and backing of the law and regulators, and are able to operate openly.  

It's not required (and I am too busy to get one but I have a team and 2 of them are licensed real estate agents) but it's good so you're familiar with the real estate laws and regulation PLUS you have access to the MLS (which you can use to get property values and find deals as well).2) Focus on becoming really good at finding really good deals.

This has led me to learn the rules, procedures and protocols of over 15 states across the U.S.. 

To wit:Article 25 of Public Act 299 of 1980, as amended was created, to license and regulate the practice of real estate brokers and salespersons in Michigan.

In a state with a 5,000 page landlord/tenant regulation codex that isn't a difficult feat.  

So long as SEC regulations are adhered to...