The problem is that they require constant supervision, turn over more frequently, and tend to have higher turnover costs.At the same time, this isn't the greatest market for flipping when everything is selling for top dollar and material costs are high.

IT will keep you from spending a lot of time wondering why a property looked good on paper, but didn't materialize in fact. 

I don’t think you are experienced enough yet to purchase an old home from a wholesaler without strong knowledge of house construction, materials, and knowledge of what “issues” to look for.

After *all* expenses, ROI on rent is 3.5% - this excludes any appreciation.A week later, I saw the SAME unit as mine, in the same complex - it was advertised for $50 more monthly rent than mine, so I feel secure in my rental rate being at market. 

Has anybody here rented a property without a rental license in an area where one was required? If so, how was your experience?

Those criteria are then messaged in your advertising and reiterated in pre-screening phone call with each potential tenant.

The tenant allows a violation of MN Stat. 504B.171 Subdivision 1 (allowing controlled substances, prostitution, unlawful use/possession of firearm, stolen property on the premises).The tenant has materially violated the lease, other than nonpayment of rent.

I underestimated the limited amount of materials available on the market, resulted in 37 day contractor delay.

Materials, quality of paint job, quality of paint.

Sleeping in a bedroom that warm a bad experience for tenants to be when you advertise central air.