If you're using an app like Tellus, you can create separate group chats that can help you communicate more effectively with your team and your tenants.

The $40,000 was created from money in my asset column in the form of a promissory note from the buyer.

I like idea of buying and holding rental properties in order to create a stream of income that can eventually replace my full-time job.

You need to create a good agreement with the current owner....And then you need to be able to act on that agreement, aka sell your position fast.

Not all banks are created equal when it comes to a particular asset class.

The house was sold in October 2017.Last month (March 2018), the new owner reached out to my agent and said that the workmanship of the remodel was crappy and caused the leak behind the walls, and created mold to grow.

However, I don't want to create a liability for myself by being licensed, and I know another investor here has mentioned that there are some tax disadvantages to holding a license.

Okay, great point and I think may have been my ulterior motive in creating this thread.

I also thought about creating some kind of loan or rental agreement with the homeowner but didn't really look into the details of it yet.

You have target  to pay off early to create more equity so right approach will be lower interest rate.