It's easier and faster to wholesale then go through the process of getting your license.

Quote from @Michael Challenger: I have no qualms with hard money lending, but I need to learn more about the process and structure to these for typical deals so that I am more comfortable and in a position to reduce my personal risk and risk to investors as much as possible.

Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.

I just got off the phone today with an investor-friendly real estate agent in another state (not NYS) who has a whole team behind her and has made it seem as if real estate investing is a much simpler process.

Having a strong understanding of your "walk away" price (maximum you're willing to pay) gives you leverage and prevents emotional decisions. 

I just went throught the entire screening process and its more like $6,800. 

You need to be extremely organized and create processes and systems.

Additionally, I expect applicants to follow instructions in the advertisement and application, to make and keep appointments, to show up on time for appointments, dress and behave appropriately at appointments, and in general demonstrate throughout the process that they are someone that is easy and pleasant to do business with.

The more you know ahead of time, the easier the process will be.

Thank you for the very thorough and clear thought process.