Do I need to hire a property management company to obtain the rental license? 

After talking to as many operators who would chat with me here, location is the most important factor - it keeps the beds full.

what will be the most cost effective tool to evaluate residential properties? 

You don't need to be an agent to be an investor.

Here is my $.02:  I don't know where you are located or the size of the parcel of land, but this is what I would do:1. 

I’m considering doing a cash-out refinance, not sure what the best options is , to use the rental property or the rehab property.

What is the "traditional" way of financing them?

I'm interested to know if anybody is currently unloading their portfolios of SFR as our multi family?

You may still not want to increase the occupancy.To me, two things stand out about your post.

If you want to be mentored your best bet is to go work for a company - most CRE is not a single individual and CRE is fast moving and things happen fast and you can't structure a "follow me to learn" without working for someone