Will any of the parties to the transaction inquire if I have the licenses to conduct this business? 

But no one that stupid is going to ever get to the point where they are entertaining a 100-unit, so there's no point in trying to market to that person, they don't really exist at that scale (and, to they extent that they do, they aren't falling for real estate scams, they are falling for crypto/nft/blockchain/ai [+ next years buzzword, whatever that is] type scams). 

In an  Office or Industrial project, competing business can co-exist as neighbors because they are generally providing a service for which the "playing field" is away from the property.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

If you actually want to be a decent person, as well as, a good landlord, stay away from property management companies!

Link isn't working, but I was able to find it here: I was just sharing notes with someone else on these forums about things I look for with syndications, and while there is a lot to look at, the first one is: is this an asset class and business plan you want to invest in.  

I’ve been a licensed agent for 8+ years and have managed rentals here and there on a smaller scale but now fully prepared to build a business out of it. 

@Lien Vuong Quincy is my personal favorite due to asian food and community but as you mention slightly far from the city for STR but if I get a walking distance from the T, that would be doable. 

For example, I know many people who have bought a house in Ewing for $200k and it's renting for $4000+ a month and this person has put maybe $50k into it over a couple years including a new roof, updated cosmetics, and was able to BRRR out all the money.

The short version is that they can only do so much work before March 15 (businesses) and April 15th for personal returns.