Deb, it really depends on your market activity.

I currently do not own any investment properties, but am actively looking. 

Am I supposed to have a license fro any of these activities?

If you aren't going to be active and involved (or at least pay someone to do it for you) don't bother, you are wasting your money. 

Only two options would work for me: A) 100% cash at the time of closing-within few weeks up to 60 days max - provided some active conversations going on.B) I will continue to be the landlord - getting market rent - will pay for services whichever applicable for managing property, collecting rent, etc.

My husband is active duty navy.

Only two options would work for me: A) 100% cash at the time of closing-within few weeks up to 60 days max - provided some active conversations going on.B) I will continue to be the landlord - getting market rent - will pay for services whichever applicable for managing property, collecting rent, etc.

We are actively looking for opportunities in the west and south suburbs of Chicago.

When I was actively acquiring property I would put down 10%-20% like most people do.  

Any active wholesalers from St.