On some, I purchased and then renovated years later, or renovated over time, or lived in them / renovated over time / and sold them tax free, and they naturally appreciated as expected from purchasing in growing areas, and they went through spurts of larger appreciation...everything stacks over time (if you're invested).

Personally, I think some of his points are a little excessive, but not everybody is naturally financially literate.

They should of told me it would be difficult :) Finding a home that makes sense has been a natural challenge.  

The nature of many deals won't make sense at anything less than 25% down. 

No person shall, in trade, in connection with the sale or grant or possible sale or grant of an interest in land or with the promotion by any means of the sale or grant of an interest in land, - Make a false or misleading representation concerning the nature of the interest in the land, the price payable for the land, the location of the land, the characteristics of the land, the use to which the land is capable of being put or may lawfully be put, or the existence or availability of facilities associated with the land."

So, not only will you need to find a suitable location, you will also need a extremely strong team that will be able to sustain the investment through the unpredictable nature of the city. 

Every state has its own licensing agency, however, I've heard that once you have a CA license there are reciprocity agreements with several other states wherein you can with reduced procedures get a license in that state.Licensing and MLS access are two distinct issues, for the most part.  

It's NOT comparable, because every state is going to be different, as one state may have minimal natural catastrophes; whereas, another state may have floods, hurricanes, etc that are taken into consideration. 

I do not know the procedure in Washington but I suspect that the assessment is made annually.

What I would like to post again, which will help new landlords understand the nature of this business, is a piece I wrote many years ago, called the Tenant Phase.