I tend to want to put down as little as possible, while maintaining a healthy positive cash flow(income after ALL expenses).  

Licensees are heavily regulated, at least in AZ, so having a license can hinder your "creativity" as an investor so it may not be worth the acquisition, risk, hassle & cost of maintaining it.Good luck!

However, job loss, stagnant wages in an inflationary environment, sudden disability, divorce, and other life changing events can alter the tenant's ability to maintain that income to housing cost ratio.

How do you plan to maintain the property?

Maintained lots of cards with low balance to limit, etc.

Instead, speak to the problems of maintaining a vacant house, or dealing with problem renters. etc.; show how you can solve those problems.  

Lots of well maintained "Grandma's Houses" that could use an updating.

Actually, HD doesn't have thousands of 1099s like carpet/cabinet installers, they actually hire one cabinet installing company to do it for them the required insurance is 2M/5M Liability among others, its a whole new different discussion. 1099s are used by most small businesses like part time bar tending, and large businesses who doesn't want to maintain more payroll, like a construction manager, project manager, tax consultant or legal consultant if they aren't incorporated.

I think all of us can maintain a sense of humility and an attitude of willingness to help others.  

Today we are a small successful company that maintains and manages over 200 clients.