@Justin Eaton Is it legal to practice general contracting without a license in your state? Where I live, it is not...but not every state is the same. In NC you can not pull a permit for a house you own unless you sign an affidavit that you intend to live in the house for at least 12 months upon completion of the work...which pretty much forces you to hire a GC to perform renovation work, if you wish to comply with the law.
I think such rules are good in that they help protect the end buyers from purchasing a house with shoddy or sub-standard work ( I'm not implying that your work is such; I'm merely addressing the rule).
Many times, investors only think of costs but what of the end buyer? What if there is a problem down the road from something you've done, what recourse do they have? When I complete a job, I'm able to stand behind my work regardless of who the owner is. As a non-contractor, how are you able to do that?
There's also the issue of insurance ,e.g. Worker's Comp.: What if someone gets hurt on your job? As you can see, there are many considerations to your question.