It is state by state and you will have to research your state laws, however with the potential for legal ramifications and the goal to wholesale, it may be best to get your license to avoid any risk.

We only have one life so take risk, cause none of us are gonna make it out alive.

They then turned around and sold the empty plots of land to investors that did not want to go through the headache, nor did they want the risk, of waiting a year to receive approvals for their investment.

@Caleb Anderson Knowledge decreases risk.

Also a concern here is the addition being an approved/permitted spaceSection 8 not withstanding if the addition wasn't a permitted addition you'll likely will be taking a significant risk that should a tragic event take place there with a loss of life or serious injury you'll have no place to hide as most insurance companies will not pay your claims plus the civil and criminal penalties are severe!

You gotta take the risk to make things happen otherwise you will never find the deal.I usually get the deals by scrubbing MLS and wholesale deals come to my email all the time.

These types of markets are a great way to enter long term holds without excessive risk while you work on your processes. 

They will have to continue to pay any liens on the property (if previous owner is not) or risk getting foreclosed on2.

It also provides builders risk coverage for the property while under renovation.Cost of package policy is $1,000 a year and builders risk is $573.The agent recommended that we keep the package policy continually in place for when we purchase the next property, but the builders risk will be removed once renovations are completed and we will be reimbursed for however many months of premiums depending on how long it takes to renovate.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.