Although I see advantages to holding a license such as access to MLS, networking opportunities, receiving a commission when you buy/sell (just to name a few), I also see that there are a few drawbacks.  

The only drawback I found was that they only go up to 40% DTI (which I believe is a FNMA guideline).

I guess I'm wondering if there any drawbacks in regards to taxes or anything I should be aware of.

The drawback of a personal loan is that rates will be higher since the loan isn’t secured by an asset.

I see a drawback as lake demand is seasonal (more traffic in the summer) but would like to know if anyone has been able to be successful doing this?

Any objections by the beneficiaries or other heir's are limited.The attorney representing the estate, with offer in hand, will request the court date for the "confirmation" hearing,One drawback of you representing your client in a court confirmation sale is your buyer must compete with other offers (bidders).Remember that your clients offer should be 90% of the court referee's appraisal.

The only drawback would be possibly higher interest rates as the economy recovers from 8 years of stagnation.

Having a partner has drawbacks plus your commute.

The drawback is your level of control will be minimal and ability to liquidate difficult.

I'm new to the site so any help pointing me in the right direction would be helpful.Also your thoughts on being a GC and investor.. what would you see are the draw backs to working on your own flips.