The main drawback being that you have to document, pretty extensively, why you have denied a tenant in writing, if they do not meet your criteria. 

I have found 2 major drawbacks to renting to people on SSI.

The only drawback is that I can only have one loan at a time.

Smart money knows where to go when the status quo changes.The only drawback is that some day, maybe not too soon, but some day they will repeal/remove/work around Prop 13 and property taxes will boom to the detriment of all involved. 

Wholesalers can help you with everything from finding a property to closing the deal.Of course, there are also some potential drawbacks to working with a wholesaler:Wholesalers may not be as experienced as real estate agents.

2) Could my situation be an advantage instead of a drawback?

While there are several advantages & drawbacks to buying the company, the aspect of no change in registered ownership is the one of primary interest to us.Once upon a time, the no change in ownership also meant no invocation of due-on-sale.

Indeed, an ethical agent in this situation will keep these details to themselves.ConsConflict of interest: This is the biggest drawback to dual agency and the reason why some states ban it.

If so, what are the benefits and drawbacks of using this method?

The main drawback is that this irrigation system has always been very labor intensive, but surely modern technology could help take care of that.