It is about education for me.

I would need more details to give you an educated opinion on this matter👍

Which peeked my interested in the stabilized housing sector for my next investment.

Which peeked my interested in the stabilized housing sector for my next investment.

If you did see the property but were alerted of the "train wreck" by your team, then obviously you have some work to do on your education of rehab budgeting.

Since you are new you may want to check out the beginners guide under the educations tab above. 

If I need to get my license and wait a year to form my own brokerage/LLC, then I am willing to do that.I have estimated the expenses to be between $800 and $1,000 for the licensing, the education course, and exam(s) [might do FL, AL, GA and/or TN for license].

Pick a strategy and learn everything you can on that strategy (and of course your target market).Education is your foundation so do you want a strong and deep foundation, or a mickey mouse one?

Looking for LL/tax friendly state, duplex or smaller MFR with established employment/education/rental base. 

As a newer investor, you'll want a CPA that can provide educational services to help you understand the strategies that you will be implementing.