You don't need a license to flip or to own, however if you are serious about flipping, there are numerous advantages to having a license, It doesn't take much,just about 40-75 hours, depending on which state, I would highly recommend it. 

Turn on the TV and watch the news , this gives you an Idea why they are sometimes refered to as "war" zones 

I get numerous complaints from my "good" tenants, complaining about Joe.

My crystal ball is a bit cloudly but if I were a betting man I would say there is almost zero chance of lumber or other materials/labor being cheaper in a year... unless... virus, war, etc...

Maybe in a war zone, but not in decent areas.

A great many war of words have been fought on BP about cash flow vs mixed strategy investment.

I recommend taking a gander in the off market inventory where the bidding wars are far less common, consider a place that needs some work, familiarize yourself with a hard money lender that will fund 100% of the rehab, and etc.

I got out bid numerous times and many multiple offers I lost on.  

In my market many of the properties are pre war construction with plenty hovering around turn of the century, that said many of them have unfinished basements and a lot of original things such as walls and floors.

One of the few places you can avoid a bidding war is on new construction - a lot is happening in the suburbs out by the 470 Loop.