There is also the fact that making money in real estate in a rising market is pretty damn simple, and that it is when the environment is challenging that actually knowing what you are doing is important.  

If you do not work in any type of environment where you deal with construction or development etc, it will take a lot of effort to learn the technical side of the business.

@Brit FosheeHello Tim Hard money loan is a no docs  (private) non-bank loan...without the tax returns and many of the qualifying criteria...but it could be on one property could be 100A portfolio loan could be from a bank or a hard money loan or a hedge fund...and this is many properties (portfolio) all wrapped in one loan ...so they are cross collateralized.Banks loan to US residents and are now required to get a 4506(t) from the IRS on loans they close...if they are Federally insured and regulated.

@Jim Fell  its about time... govmit is heavy on regulated lending. 

I just replaced one in a rental unit, and a large one in my personal residence, specifically due to the EPA regulation change. 

Hard to argue the current market conditions don't support it when we are still making new highs YoYand the lending environment is still tight.

Here as well as other states the GC license is based on contracting law and regulations not actual field skills.

The CFPB amended Regulation Z, which implements the Truth in Lending Act (TILA).

These are not apartments or meant for residential occupancy.With regards to your comments on regulated rental agreements (the 'social' sector) and tenants' rights it is indeed an uneconomical situation for a landlord if your are stuck with social renters (a bit similar to section 8 renters in the US), without possibility for rent review and in a high end neighborhood.

That's because real estate is a highly regulated industry, unlike the ice cream drive-in business or the sporting goods business.