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. 

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

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

I have ordered some books and spent a lot of time all over the web researching and reading. 

We have helped numerous clients buy multifamily in the South Bay and around Southern California to build wealth. 

What are your thoughts on web generated leads?

Austin's got a diversified economy, a giant university (and numerous other nearby universities), good quality of life, and is a magnet for new and existing companies.

Actually there are numerous e-myth books for different types of businesses and professions.

I recommend if your going to do out-of-state investing find a good investor friendly realtor in the Network section here on the BP web site for the area your decide on.

There were numerous changes in Dodd-Frank which govern these and if they are not drafted correctly could end up unenforceable.