If you don’t care about maximizing loan amount then you could start whenever.

Do you need license like you need to become a conventional loan broker aka originator (I happen to be one, licensed in NY and NJ).

However, going to the unit, seeing what needs to be taken care of, writing it up, submitting to a manager, going to Home Depot and then doing said work takes time. 

People care more about the appearance of kitchen appliances because they are in a public portion of the house as opposed to washer/dryers which visitors rarely see. 4.

Rates can be very similar to those of conventional financing (Fannie/Freddie - full doc loans that you will need to prove income to get), but typically a little higher than conventional financing. 2nd - Networking and partnerships! 

I’m 30 years old, 10 month old son, juggling taking care of the family, property of 21 acres, an old farm house, work, and real estate.

Just be careful what areas, cash flow isn't everything.

You are taking over for someone who didn't care at all about the rules and you want the city to just be like, "yeah, this is fine"?

Instead, investing should be a means to taking care of our needs and improving our life style.

So be careful of that.