DOES ANYONE HAVE EXPERIENCE DOING A 'FUND-LESS/SELF-FUNDED' SEARCH?

I am interested in learning more about the path outlined in BuyThenBuild (book) which is a little different than the traditional search fund model. Particularly:
- Using a broker
- Getting an SBA Loan. (90% purchase price - is this actually possible?)

Questions:
- Does running a search exclusively using intermediaries (broker, lawyer, accountant, banker, etc.) for deal flow make sense?
- How do the economics work given it's (likely) a smaller business than a search fund target business?
- Does anyone heavily prefer this route over the search fund route? If so, why?


Cheers,
David
davidlobo.me



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