Here are some of the pros and cons:Pros:Gap in the market that can be filled.High likelihood of repeat business from high volume buyers.Because many investors lean heavily on their agents to do legwork, you have a fair bit of control over your sales volume/performance.Your customers tend to be savvy.If you do well, referrals will fly in and you will have a full book of business.Cons:Requires several unique skillsets which are not required in traditional real estate.  

After a lot of time and energy I found that this is what I'd like to do with my life so that I can eventually ditch the traditional working world and have more time to do things that I would like to do. 

He does do the normal Fannie/Freddie loans...but he also does all kinds of non traditional lending, and commercial stuff as well I believe.  

Better used for liquidity for rehabbing, or making cash offers and then refinancing with traditional loans.

You'll talk w sellers who are motivated to sell but it doesn't fit a wholesale model (house in retail condition, no need to sell quickly, etc). pass those folks on to the realtor who can list it the traditional way. 

Depending on the layout, you might be able to easily accommodate traditional HVAC systems.  

@Mark Holencik Sorry Mark, I appreciate your response, I didn't mean regarding paying taxes, I meant as claimable income toward qualifying for traditional financing.

No one was hurt and everything has worked out well thus far.Instead of the aforementioned approach to the 5-unit building - I've simply used some of the insurance $ to go the traditional purchase route.That being said - I had it appraised for 230k......and in 1 year- I can refinance the building if it makes sense.This whole process has been a fascinating learning experience - and I've also realized how much more work a commercial property is to close on than a residential!!!

I really appreciate it, so if the property is procured using traditional funding, then is my understanding correct that the interest would be the the only mortgage component considered for the NOI?  

In my case the scenario seems a little different because a traditional mortgage is an unlikely scenario for the buyer....we're talking about a purchase price under $10K!