The pro's are good steady money, paid promptly, and even bonus cash if you pass inspections on the first go.The disadvantages are what you'd expect.

Coupling a monetization loan with an installment sale is one way to get the tax deferral on the capital gains tax and have money that you can deploy in another asset class.You can learn more here...https://www.biggerpockets.com/forums/51/topics/569293-can-i-use-100-bonus-depreciation-as-alternative-to-1031-exchange?

Another huge bonus to this process is the developer is able to build a project that has all of the modern amenities and comforts tenants are currently looking for, but are not often available in older product. 

They have great sign up bonuses that if you use a Chase Sapphire card to transfer to Hyatt or International airlines you can get $3500 worth of points back when you spend $6000.

Another investor referred us to this owner (we gave the investor a nice bonus).

I like mine on spring cycles as well and recently included utilities in one unit rent to entice the resident to sign an 18 mo. lease to get them on a spring cycle (and make them a longer-term resident).

where you really build miles is paying for first class like I do.. there you get your miles for your card then you get double miles for flight taken plus bonus on top of that. so for instance from my market here in PDX where we reside to the east coast or mid west  coach ticket is say 600 round trip and you only get miles for the flight so say its 2k miles per round trip.. once you get to premier level like I am  and Pay for first class that might be 1200 to 1500 round trip.. you get double miles plus a bonus on flight taken you get bonus for using the card of the airline and a 4k mile round trip can earn me 10 to 12k frequent flyer miles then add that to 10 to 30k a month on the card for business expenses and the next thing you know you have real miles.. so I usually have a million miles or so banked. and my airline they never expire.. you have to watch out for that.. 

With retirement funds of course you get the deferred taxes on profits, however you give up the depreciation and right now the bonus depreciation.   

When the government offers "100% bonus depreciation" this encourages business owners to spend money.

1) Bonus deprecation from cost segs from syndication deals (need to be real estate professional with 750 active hours)2) land conservation easements3) oil and gas deals