For example, let's say you are guaranteed a 7% pref and the property delivers exactly that, but then sells with a capital gain. 

I’ve done 1 rental property and sold it to gain capital and did 1 flip that didn’t go so well so not 100% experienced to say the least.

Since you're analytic savvy, run some high level amortization schedule scenarios to see how much equity you gain through annual principal payments.

I bring to the table my full expertise in project management, construction, and deal sourcing, along with the knowledge I’ve gained working tirelessly in this industry over the past 3 years.My vision is to dedicate the next 10-15 years to real estate development, growing projects that generate significant returns while delivering exceptional results.If you’re interested in learning more, I’d love to discuss how we can collaborate.

In the end the experience you will gain from closing a deal without representation is priceless! 

It sounds like you navigated the challenges well and gained valuable lessons for your next venture.

They do local meetups but you can at least gain access to true off market properties as apposed to using wholesalers.

I'm quite not 100% on wether or not if I purchase my first investment property where I currently live (Virginia) (*which I will be*). should I also gain my license here since I'll have a property within Virginia.

I backed up, regrouped and went smaller to gain more experience. 

There is no current tax on rental income and capital gains.