Although I do not quite remember the wording, it is something like: If you are purchasing a property for a person other than yourself to live in ( this applies to flipping as well as landlords), and you are supervising the work being done, whether or not you are having work done by a GC, then you are acting in a role of GC and/or supervising or managing a project, and this requires YOU to hold a license.  

Then, at the appropriate time, apply for an FHA loan for that multi-family.I think my first response I lost was better written but I can't remember exactly what I wrote.  

Any time a future stream of money is involved, discounts could be applied and assignments made of the income stream.

Its 60 days from the date of closing for primary residence, the general rule applies to most primary occupancy conventional, FHA, and VA loans. 

That won't apply to 95% of the rehabbers.

My boyfriend and I are new property owners and are working to fill a vacant unit.There are a couple of girls (two cousins and one's newborn son), who have seen the property/unit and applied to live there.

This is NJ law so applies statewide.

However, it definitely taught me a lot about the guts of a company and those principles that can be applied to every company out there. 

and you can apply that knowledge to the next one. 

As well as applying these concepts and understanding them fully.Many have been very successful without it but I say its the best foundation to real estate you can get.