We don't have many basements here so I am not familiar with what that entails.

Plenty of people (agents included) can come up with pie-in-the-sky ideas of how to change and improve a house, but few have a real understanding of what that work entails, what challenges will need to be overcome, and how long it will all take and what it will all cost. ...how did this agent know all this info?

The reason I'm asking, is that with your great background, you could probably do well in real estate investing by doing alot of the research that is entailed in finding potential sellers through marketing, surfing the web and other ways that don't require physical labor.

Note though that an affadavit of owner occupancy needs to be signed, and I'm not sure what that entails.

This entails building personal / working relationships with people successful in the field.

What does your workshop entail?

The first single family I purchased was a foreclosure so I understand what this would entail.

How hard is it to transfer licenses between states/ maintain licenses in multiple states and what would this entail?

Make sure the tenants are trained well to not use "personal" wipes with these systems as they clog the lateral lines in the drain field too - many park owners include this in the park rules.Get three qualified professionals to inspect the well and septic systems for performance and to understand what it takes to maintain them properly and you should then have a good idea what this entails.  

I'm curious about what this entails.