A couple thoughts of mine.1) opportunity to get advice from experts in any and every area related to REI all in one place.2) I am grateful that I was able to reconnect to an old friend, who I found 'coincidentally' on BP

Looking to get my 1st within a couple months

We are a couple with full-time jobs and 2 kids.

Hi,I'm planning to buy a property that has been rehabbed couple of years back.

Those with insured financing have been subjected to this qualification requirement for a couple of years now.    

Far too many become agents without realizing how expensive it is, particularly the first couple of years.

I don't have any experience with this, but a couple thoughts (if you don't have luck with the DMV).

In this case, the chicken came first.And you're right about how a good full time agent will eat your lunch, but hopefully within the bounds of ethics and good taste.As a full time (and then some) agent, I'll remind sellers that most part timers tend to treat this profession as a hobby, hoping that while they hold down another full time job, that they'll trip over a couple of deals each year.  

I know in many places you can invest a couple million $$$ to become a citizen and then purchase land.

I don't exactly follow what you mean by "where we are in the cycle," but assuming you mean that RE is at or near it's peak in value, that would not influence my decision, especially if I could pay it off within a couple years with my W2 income.