Pro's and Con's of Hedge Funds

I have recently been working with a hedge fund buying, rehabbing, and reselling distressed properties in South Florida. The hedge fund is based in Dallas, Texas. Everything has been going great other than the fact that it is hard for me to get deals approved by them due to all of the contingencies they carry. My mentor has also advised me that the fact that they are located in texas may mean that they are not totally in tune with the market in South Florida. For people who work or have worked with hedge funds to fund deals, what are some of the pro's and con's of working with them?