I think it's doable, but you're going to have to give somewhere- between studying and managing.

To be safe you can go with a longer term 10-year term which limits your upside but also could prevent you from having to refinance during a down turn.

I will be taking my exam in CA near the Palmdale/Lancaster region, My question however isWhat materials/real estate questions should I study?

NOW, if THAT is what you are talking about (a listing agent who represents the Seller, and then brings in a Buyer that they are working with), then it is required that the Realtor have both the Seller and potential Buyer sign a dual agency agreement in which they both are aware of the dual representation AND they understand that their representation will be somewhat limited because the agent cannot divulge secrets that each of them has told the Realtor about the other....IE "Buyer will pay $5K more than the offer price.....or Seller is willing to accept $XXX amount for the property".

@Daniel ScullenThe C-Corp generally makes sense if other investors (shareholders) will also invest in the C-corp because it will afford them limited liability. 

Also, saying that you need to get the concrete done anyway and don't have that kind of cash on hand leads me to believe you might want to think about getting some stronger cash reserves or your own lines of financing before proceeding; I've got credit cards with credit limits double that, where I could self-finance those kinds of repairs if necessary, but that's not a big enough hit that I'd have to worry about taking out loans on paid-for houses. 

however don't limit yourself...   

So I try to limit any cleaning demands from guests. 

I have very limited real estate experience but I do have some friends/ family that invest in real estate.

The sky's the limit if you apply yourself.