So you guys are saying I can just forget 90%+ of the course material after I take the license exam and I can still be a top-notch/producing real estate agent since I don't need 90% of the material to serve my clients? 

Over time, as the property value after rehab seasons, you pay down the note a bit, and receive additional cash flow, re-configuring the financing on the property might produce more bang for the buck. 

If someone was thinking about buying a second home and keeping the first (living in one and both producing rental income), as a way to invest so there's money in the future for retirement, is it better to do a home equity loan, HELOC, or cash-out refi?  

NON licensed.you work for top producing agents and cordiante their transactions.. following critical dates making sure contracts are all signed and dotted.. following up on EM deposits following up on lenders  apprasiers  inspectors etc etc.you get to learn the business from the business side .. 

If I understand your goals correctly, you want single family that produce both income and wealth.

To build wealth, live a frugal lifestyle and invest in income-producing assets.

I’m going to wait until the new list is produced in mid June. 

There are a lot of options in Bayview at that price point, many of which have in-law units that can produce solid revenue.

The classic FICO credit score is produced from software developed by Fair Isaac Corporation and is available from the three major credit repositories.

You need to be producing funds from an apartment deal where all of the tenants will be covering your business expenses and your debt payment without you having to come out of your pocket.