not to say that this won't work and cash flow but there is more to the equation then MTG amount and rental amount.

If the house wasn't a part of the equation and the family came to you and said out mom is in a tough situation, we really need $35k would you donate that money?

@Marco MorkousHow does “paying off current liens” equate to taking over properties without needing financing?

So there is value in having the license in that situation as well.Bottom line and point being, having a license as an investor gives you more options and more opportunities than without it and if you are worried about the costs of getting and holding a license, then your real estate investment goals are not high enough.I do agree trying to do 2 things part time (part time investor, part time agent) is no easy task but having the license does not have to equate to being an agent part time, just using your license for referrals, MLS access, agent contacts, and commissions on your own purchases and sales is more than enough without a full distraction.

Leasing the tavern out would cut my income down some but would also cut her existing expenses she cites out of my equation as those are business expenses.

Unless you have a business with employees that would require an ERISA 401(k) the Solo 401(k) version is much simpler, easier & less expensive to administer, and sufficiently robust in terms of segregating retirement and personal finances.While not entirely true in all cases, I would equate eQRP with "shiny object" marketing. 

When you factor that stuff into the equation the cash-flow changes.

That's one part of the equation.

But this brings a big risk to the whole equation. 

But my main question here is how to incorporate my savings in rent into this equation?