I like that all the responses have varying views on when and why/why not to get licensed. 

But I would like to keep acquiring properties and I'm about to go looking for a second portfolio lender.I know terms probably vary widely, but what kind of terms have you been getting from your portfolio lender?

Over the next 20-25 years you are going to need to cover:1. a new roof, unless you inherited something like slate or copper2. 2 water heaters3. brand new HVAC system4. siding, unless it's vinyl5. tenant damageAs you can imagine, these cost vary widely.  

This all varies state to state on local license laws and state statute codes.The brokers have the client relationship with the buyers and sellers.

Of course, this varies from state to state. 

Depending on the location the value could vary quite a bit.

I'm thinking this might be an issue of contractor culture, but suffice it to say that results vary greatly down here.

After touring their business (which consisted of walking through houses in varying condition: under contract all the way up to rehabbed and on the market), I was quite impressed and wanted to get involved somehow.

The quotes vary from 850-1400. 

Timelines and process vary from state to state.