@Kevin PhuFor a house hack, it's recommended to keep a separate checking account for the rental portion because it will really help you come tax time. 

Be sure to study your state book! 

Account Closed, I was thinking of him building and selling.

Account Closed described, he was able to use a VA loan where he would be able to buy a property with $0 down payment and probably has a pretty awesome interest rate.

I actually just read an article to inform myself and it seems that banks use more than 1 method to determine the value of a property such as this one.1) They compare to other similar buildings2) They calculate how much it would cost to build an identical building3) They use the revenus and expenses (this method gives the lowest result)Perhaps my real estate agent was considering some of the other methods and took into account it's amazing location and the actual municipal valuation.

Account Closed thanks for your feedback!  

Hey so I had an issue with my account where I couldn't reply, got it fixed now.

Or are they transferring larger sums from other retirement accounts to get going?

The only reason to not get licensed is if you're planning on conducting shady business practices and don't want to be held accountable. 

Are there any legal/financial ramifications if I collect rent through my personal Venmo account, then transfer to my business account for my rental property?