---They'll be in Class D "ghetto" neighborhoods where it will be difficult to find an S8 voucher holder that wants to live there.

This is either your time and gain the experience the difficult way or you pay a PM a substantial part of the rent.  

Let my license expire in a difficult time in my life.

If you make certain your buyer is pre approved, the documents line up, and you keep good communication, the selling side has never proven to be difficult to me.With that said I agree with @Rick Santasiere in regards to scaling up.

No fees involved and bookkeeping isn’t that difficult.

Buying would be difficult as I will not have any income while in school, but could try and figure something out.

@Sylenthia Boswell I hate to break it to you but its going to be really difficult to get deals without having some money to spend on marketing/skiptracing/cold calling.

I’ve never worked with them, but have been taking over management of a property they previously managed and it definitely has been difficult!

I want to make a few offers but it's been really difficult finding  A realtor and mortgage broker that will actually work with me.  

I think the licensing requirement is good.I also think that getting a real estate sales license should be much more difficult.