Esp. in dollar terms a few mistakes could gut your return so the risk is much higher and the return is often not worth the risk.4) You typically only have so many great loans so putting it on a bunch of $30K properties is typically a much less optimal idea.5) Managing these properties is a huge pain and good luck finding a great property manager who is making only $75 per property per month (at 10%) or less.6) As you mentioned capex can eat you alive.

I found a local person to help with the bookkeeping, which was my pain point.

The product we currently have for insuring vacant properties while we renovate them is great, but the company we have been using is getting PAINFULLY slow at responding to quotes for standard landlord policies. 

You can drop your price, which is painful but the easiest if you're considering timeline.

Congratulations on your new found focus, Psychology is 80% of this business!

@Joshua Lyon I have found Navy Federal a bit of a pain to work with in the past but their loan programs are good.

@Matt Ellis I feel your pain.

On the other hand, while the seller's net should be the same, there is a psychological element on the seller's side and it would seem that one way should work better than the other.  

Olaf College with a BA in Psychology but I want to go into business.

Thanks Greg for all of the psychological tips.