As it relates to a mortgage being sold, yes in some states you need a license to buy and sell mortgages as well.

An REO lender I've known over the years calls me on deals he knows I can purchase quickly.

You should always vet your agent to ensure they are experienced and working hard, full-time, in the market.It's nice if you can find an agent that specializes in real estate investing, but any solid agent should work well for you. 

Regardless of where you are at in your investing life there is more to learn.BiggerPockets has helped me see broader issues in RE across the country as well as  different investment approaches.Another thing is reading the stories of success and failure. 

Remember, the seller is counting on this to close as well. 

Hats off to you, Mike, for a life well lived.  

This story probably explains something that happened when I suddenly got a credit limit reduction on my Wells Fargo card .

@V.G Jason Your point is well taken.

It will ultimately be based on the supply and demand of the area but you have to keep an eye on the total renter pool as well.

All of my current rentals cost about the same to purchase ($215-265K), but cash flow is so different and current house prices are as well ($325-600K)...and the one I spent the most for and cash flows the most, is now the one worth the least (still worth more than I paid for it 3 years ago).