Hope you're all doing well today.I'm currently a full time house flipper/ real estate investor, but am interested in starting my own brokerage firm in part to reduce the costs of my flipping business, but also to have full access to the MLS, provide secondary income, etc.In Kentucky, in order to become a broker, you must work as a licensed real estate agent for 2x years. 

The broader point of reducing the loan to just the reno was to reduce the amount loaned, but to your point, most will presumably want to lend on the purchase price to secure a lien for after the refinance.

I'm currently a full time house flipper/ real estate investor, but am interested in starting my own brokerage firm in part to reduce the costs of my flipping business, but also to have full access to the MLS, provide secondary income, etc.In Kentucky, in order to become a broker, you must work as a licensed real estate agent for 2x years.

As some of the other posters pointed out what I'm finding is that many sponsors I have met already have sources of income to cover their living expenses (i.e. many are in the tech or medical fields).

I have been reading a ton of material (including Bigger Pockets books!) on real estate investing to educate myself before purchasing my first property.I've been scanning the MLS and been in contact with my agent for t...

Lets call that the :( side.2) And there is the happy side... passive income (syndications, passive partnerships ie medical/dentist offices) and passive losses (depreciation, bonus depreciation via cost segregations common in syndications).

I rent to exclusively to travel nurses and travel medical professionals.

There are a TON of programs out there that will pay rent on behalf of your tenant if your tenant has lost their job, or even if they are still employed but they have reduced hours. 

Off market deal, found thru a local agentWill negotiate to have purchase price reduced by 20% How did you finance this deal?

In the short term, shifting strategy to carve outs can reduce risk here or buying assets with likely quicker exits.