*You can BRRRR the property in either case by performing a refinance after the repairs are made.

And When I took over my current Multi family property I had to make it clear with the current tenants that I would not allow them to perform any work on the property.

I want to be able to roll up everything into something that I can hand to my accountant and use for generally keeping tabs on the property's financial performance. 

Does your cousin not have performance details about expenses and net cash flow?

So there is value in having the license in that situation as well.Bottom line and point being, having a license as an investor gives you more options and more opportunities than without it and if you are worried about the costs of getting and holding a license, then your real estate investment goals are not high enough.I do agree trying to do 2 things part time (part time investor, part time agent) is no easy task but having the license does not have to equate to being an agent part time, just using your license for referrals, MLS access, agent contacts, and commissions on your own purchases and sales is more than enough without a full distraction.

I am interested in investing in the palm springs/ Coachella valley, and wanted to get more info on which locations exactly and which property types/sizes perform the best?

I'd go closer to 20% since the house is so old and (I'm guessing) you haven't had an inspection performed yet.I know you said you'll be managing the property yourself, so I'm SUPER-glad to see you including a 10% PM fee anyway. 

I prefer to DELEGATE this task.

Not sure what else you are looking to hear from others.hire out the cheapest tasks, the ones you don't like, or the ones you aren't that good at.

This third area is where we perform better the worse the real estate markets get.