[All relative to location+sf+amenities].If your place is a dump, in the ghetto, with no amenities, what do similar places rent for in your area? 

I invest exclusively outside of Fort BraggThe only benefit of buying in a military town is it can be somewhat insulated from economic downturns. the detriment is military towns are generally stagnant.

Also, does it even make sense to just represent myself when considering the yearly costs and fees related to having a real estate license?

Can the partners get the full 121 benefit after living in the properties for 2 out of the 5 years prior to sale - No (but a qualified no). 

It is our intent to operate transparently and to the benefit our clients.

Househacking can be a little complex for tax purposes.You have a primary residence in addition to a rental property.You are eligible to deduct direct and indirect expenses related to your rental property.Direct expenses can be considered items like repairing an appliance in the rental unit  or doing the flooring in the rental unit.Indirect expenses are items are items for the full house that you would pro-rate to your personal residence and your rental property.

I live in Northern California and does not have the means to maintain rental properties(with a full time job). okay in investing out of state, appreciate your pointers related to what type is best, location, how many, ROI etc.

Going into a Finance-related field certainly fits both those. 

I keep hearing about this dip but instead of it scaring me, how could I make the best of it?

I would advise that you hire the services of a real estate attorney to draft the necessary documents in relation to the by laws of your state.