I am the one doing most of the work (which looking back, I'm a bit annoyed with myself that we own the LLC 50/50 when he barely did a thing). 

Its bare bones to start but I'm not giving up!

Lot of old homes have no insulation in the walls and barely any or none in the attic.

Cap x is not Bad on cheaper properties because you were doing the bare minimum to make it clean and safe.It is cheaper to work on a Honda Civic then it is a Mercedes S class.That is why I like section 8 for inner city because they have already inspected it and I know that it’s clean and safe.As with any property, they need to be maintained.

Our mortgage would increase by ~$500/mo, and it seems like most properties we could afford would BARELY beat that from a cash flows perspective.

If you can find something with at least a permitted septic and utilities on site, that could take a tiny bit of the risk/unknowns out of the equation vs developing  bare land.

If you are a bit of a spoiled brat then you don't see what Ed Mylett did for his son was bare fricking bones.

For full disclosure I barely call myself a RE inventor and am not a realtor/in the industry.

Screened from what we read about to do our DD. 8 weeks in framing was barely done talking 8-9 walls....and electrical and plumbing done.

The exam in my opinion is not hard but they do use trickery in the wording so don't rush through it and pay attention to what you're reading.End of the day, the licensing courses teach you next to nothing about being a Realtor...they barely teach you how to stay out of legal trouble.