It DEFINITELY DOES NOT REQUIRE a license, but that doesn't stop some states - OH, for instance - from regulating it as licensable.Brokers (and agents, where they still exist) do not put properties under any contract other than a listing agreement which temporary and renewable.

Or would having tenants in their existing property count as income rather than an expense?

I did tell him I would have to walk through the property  before making a offer  (for my exist strategy I was thinking wholesaling or sandwich lease option) any input would be helpful  thanks in advance. 

It's definitely a niche market and the market didn't exist prior to 2009.In only 2 scenarios have I ever bought a note from the bank on a specific property that I was in contact with the borrower prior to being direct to the bank.  

Here is California, if you form an LLC the State Franchise Tax board requires an annual $800 tax simply for existing, albeit if one is in business, one can expects expenses.

Because of the medical issues the existing tenant has, he cannot live with animals and that’s the reason he is on the property.

If done right you could rent your existing SFH for enough to cover the holding costs until you meet your exit goal for the new project.

These wood shake roofs are now unlawful in the Peoples Republic of Kalifornia to install, BUT, will a lender lend on a home with an existing wood shake roof that is in servicable condition in a lower risk area, to wit, a residential area in a city (Fresno)?

*Only one of the units was vacant, so we haven't seen the bottom unit yet - one has to be open to imagining the possibilities that exist, sight unseen.  

The most dangerous situation is the landlord that owns 1 property.If you are midway between residential and commercial (5 properties) the insurance companies start considering you a risk and will only cover you with  more expensive commercial policies that require you to go to LLC's while LLC's might not be appropriate for someone getting new mortgages and has existing mortgages.What is the saying-go big or go home?