There are some great meet ups in your area I'm sure and a lot of people at those meet ups are more than happy to chat and give ideas and answer questions.

Ask them to confirm the license is still active.

Many people have had a great experience with home warranties, myself included.

Jason Chambers is the guy I refer people to.

Even so, most people choose to buy coverage for things even if there's a 99% chance they won't need it.  

This is a great place to learn and to connect with people so take advantage of all the great resources.

Look at how people invested 20, 40, or 60 years ago.

There should be a good number of people out there who would be willing to mentor or partner with you.

You might need to file 1099s if you used contractors or other people whom you paid for labor:https://www.biggerpockets.com/forums/51/topics/1167632-expla...

I normally advise that people start a business as a sole propeitor in their first year.If it is successful and something you want to continue, then have a conversation regarding entities.