Potential issues with being an agent

[Jimmy H.]

I am considering getting my real estate license to sell some property that my family and I own, to save transaction cost on RE investments that I purchase or divest, and to have supplemental income.

Although it will be a "second job" I will not be marketing myself especially hard as a RE agent. I also want to do enough work in the field (1000 hrs per yr) over the next two years to become a Broker and start my own small firm and save on "commision splits", and to make a little profit from the brokerage.

My questions is what are the potential pitfalls of being an agent. Can I not sell certain properties, or must I make full dsiclosure at some points. What about dual agency...if I was selling one of my investment or my own home and offered dual agency - if I give disclosure is it a breach of my fiduciary duty?

What are the exact transactions and situations that I must avoid if I were licensed?