Just to clarify a point, in your case you mentioned sufficient equity, in other cases it can be slim just to refi.

If it does, the business license won't be sufficient and he'd still be considered an unlicensed contractor. 

Thinking in the $2MM-$3MM range.What are some of the best destinations with sufficient rental demand to justify a relatively larger acquisition?  

Legal activity at the location should be sufficient to terminate the lease.

If a tenant asked me (which has never happened BTW) if I was honest I believe I'd ask them what they thought and if they were....If any landlord feels that they must approve someone if their credit score hits some mark, they have sufficient income and a good residency record, they are wrong.

Would a simple disclosure that I do have a real estate license be sufficient?

You can request to remove it with conventional at 80% LTV, or it'll drop off automatically at 78%.You will have to pass a self-sufficiency test for 3-4 units with FHA, meaning the rents from the property (including the one you'd be living in) have to cover 100% of the monthly payment.

Yes, it would be best to start with the amount that would be sufficient for investing. 

By putting 5% down and with the profit from our current house, we'd be left with about $16k after closing to make renovations to the building and the unfinished basement which is sufficient.

This is known as the self-sufficiency rule.