(not to imply that you aren't already, lol!)

As the title implies, I am new to real estate and just last week, I called out a couple of mortgage brokers to see what kind of mortgage and rate I could qualify for.

I just read in a paid for training that the successful trainers sell off their 3/2 contracts as wholesales, they keep the tiny 2/1's that cost them only $25k, brick 2/1 in ok area cap rates like crazy because you are all in for only $25k to some low number disproportionate vs the lower rent you get.  

Second, I know from experience in other fields that "licensed" or "certified" means "I passed a standardized test" and by no means implies actual competence.

Though your tax burden is in the year you sell.As Linda implies above, I would definitely find a new accountant...

Getting paid commissions implies he actually SOLD the properties, which he didn't right?

If it is a refundable deposit, I call it a "deposit increase" and avoid using the term "pet deposit" because that implies it is only for pet damage.The deposit is $1,000 and you increase if $500 because the tenant has a dog.

That would imply even his comments and suggestions are wrong, which is false : ) - I've read your comments are you are a very knowledgeable real estate professional Mr.

@Justin R. implied this but basing cap expense as a percentage of rent is not very realistic.  

In California there is a civil law called the Implied Warranty of Habitability. ( California Civil Code 1941.1) In part it states that a rental must be free of pest have heat running water plumbing windows doors etc all in good working order.