I'm just starting my wholesaling journey, and finding cash buyers is more difficult than I anticipated.

Lastly if you have never built new construction you might find it difficult to find a lender.. and will need to bring in an experienced partner. 

Practically though it seems on most posts with a difficult tenant someone will bring it up and if tenants google their situation on what to do they will see the practice. 

I don't personally look at single family in Mpls because I think it would be really difficult to cash flow, unless you were renting section 8 in North Mpls, which is a niche I know some do very well in.

Legal issues aside this would be a ridiculously difficult business to make any money in.

However, with this strategy, it seems with a higher mortgage rate from putting less down and the cost of PMI might make it very difficult to find a cash-flowing property. 

Here are some of the downside I can think of: 1) PMI costs, til 20% LTV2) over-leveraged with larger mortgage payment (more difficult to cash flow) 3) no refi until at least 20%3) other?

When you're competing with many other first time home owners and a shortage of product, it's extremely difficult to enter in.

I think that HELOC on investment may be very impossible, difficult, or expensive. 

Difficult to make decisions, and can become gridlocked. 2.