What I mean here is that the biggest challenge that investors have is "cash out of pocket". 

Cash is not the biggest hurdle to get into multifamily.

My biggest fear is not failing the deal as I will take every conservation precaution as I learn the industry. 

That being said, my biggest fear is not having the capital to purchase rentals, but I’m currently reading Brandon’s book on buying renting properties for low or no money down and it’s easing my worries about feeling to need money to buy property

What were some of your biggest challenges?

I see no real downside to getting your license right now.

Especially in a business like real estate where so many are trying to get the biggest piece of pie they can with little regard for the others (not always the case of course). 

My biggest questions are when does diminishing return occur.Price vs Sleep Capacity1 bed / 1 bath vs 2 bed 1 bath vs 3 bed 3 bath.

Former LOs generally know enough to be their own biggest enemy. :)Rental income from long term traditional tenants can be counted, in some form or another, in all scenarios where you're being honest on all paperwork.

The downside to this approach I think is that the bank can close the line of credit if they feel the need to but then again, I haven't lost anything in the process.