I owe him a little money for prorated rents and oil that was not collected at closing, which I would like to use to offset the missing security deposit.  

Most CRE firms, and especially the big fish tend to look for at least 3 years of property management before they will consider hiring you as a broker.

I'm currently in talks with a homeowner who's property sits on 24 acres - 21 of those acres are undeveloped and used for hunting and fishing (a stocked pond is on the property).I'd appreciate any insight you have based on your experience with the land mentioned in your original post.Thanks,Nikki

Maybe an agent caravan with a fish bowl for putting in price they think it will sell at and the top two items they do not like about the property.

If you start flying out of there, ask the tower someday if they remember "Oil Cap 3-7".

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I'd also question whether someone with a degree and no work experience could get what would appear to be a blue collar job with a 6 figure income unless you have some connections in the ND oil business.

After buying a few properties with my own money and no financing I have only been able to go after the little fish 30-50K range homes.

Amortization can be great as it allows deductions and can be added back towards income qualification.Depreciation, amortization, depletion (like Bill mentioned, forests, oil, gold mine, etc only has so much useful life/value) can be added back and a few other items as well (home office deduction, depreciation on business mileage on sch C line 44A can be added back at 23 cents per mile, and etc.Fannie Mae did 1 year self employment tax returns back in late 2012 maybe but I have not gotten a 1 year tax return decision on FNMA lately.However Freddie Mac (4 financed properties max) you can get 1 year self employed tax returns all day long even with down payments as low as 5% down (OO).