Your research will be far more accurate than anything AirDna could ever give you....And its FREE....

Now if I could only get this accurate in forecasting lotto numbers, lol. 

Yes, the numbers are pretty accurate. 

Gamble.

You need to be able to run comps, accurately calculate rehab costs, understand the difference between fix and flip rehab costs and rental rehab costs.

As long as you don't cross the line ethically, you stand to do a lot more business with a license, and you also have the benefit of the MLS, which is critical for accurately determining the AS-IS and Retail values of the home. 

I do not gamble with this. 

You may want to research why paying 50% upfront is a high risk gamble and why you should NEVER pay cash.3) WHEN: housing values are not predicted to drop - although they may flatline.

I want to keep a more accurate monthly financial statement, but not sure what the best setup is for both me and my accountant. 

But if your insurance accurately reflects the proper beneficiary of the policy, your mortgagee will get notice of the change.The real risk that has been addressed here, finally - insurance!