Lost his license for continuing to practice after being suspended for not paying money to his clients, just like Stormy's attorney what's his name... 

My daughter and son-in-law opened their own business 3 years ago and so far have done well, but he built a good reputation in his field before starting their own, she kept her good corporate job for benefits, and they are now looking to invest in property with the profits, hoping for more passive income in the future as they’ve realized how much extra work a small business is with compliance, licenses, workers comp, etc.

One example in Oregon for instance if your going to buy 1 home and fix it up to sell to the public you MUST have a developers license or a GC license.   

I own a small real estate brokerage in CO and I'm also looking to start a mortgage company or at least having some staff members licensed as loan officers. 

I don’t even think they used licensed appraisers (could be wrong.

Quote from @Zenna Weis: Yes, you can charge the tenant for the repair or replacement if they were the cause.I'm not a licensed plumber, but I have enough experience to believe this is an exaggerated case.

Currently on the road to getting my real estate license but any advice/ recommendations along the way will always be appreciated.

@Andrew LaxThis will be very state specific for example Georgia is very strict on licensing and seller financing as is Ohio.

based on their website and proudly displaying their NMLS and state licenses I think your fine.

One thing I do do, is send rent payment reminders as a courtesy.