You need to know this and best way is to educate yourself.3.

I will not respond to all  participants, but this has been a very educational read. 

My piece of advice would be to try to take advantage of as much free education as possible with podcasts, forums like these, YouTube, and other real estate investors.

Thank you for the education - jr

Begin by educating yourself through books like The House Hacking Strategy and podcasts like BiggerPockets, and join online communities for support.

We had a couple companies come in and give wild quotes to rework our system, then found a guy who showed up with schematics and trade journal articles on our particular system, spent 2 hours educating us on it, then cost about $500 to go around and fix all the crappy work previous "contractors" did to the system to try "fixing" it. 

For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work.

Bigger Pockets is a great place for education and networking and is full of great content.I recommend that you check out the following resources:1.

In the meantime, I’ll continue educating myself through resources like BiggerPockets, networking, and local market research.

The intent of getting a sales agent license is to educate myself in Real Estate and create some additional income.If your relationship is such that you need to hide your license, you’d be better off with a different working relationship.