Can I continue studying for my test take the RE agent test in September and be all set (while outsourcing the leasing to an agent for now) or do I need to wait until I am licensed and also hired by a broker?

Tests are auto  corrected by the app.3.

Just wanted to test the waters and see if there were any tips for people who are trying to do what I am doing.

Gene Trowbridge put out an article a while back saying that advertising for private loans is an area where one of the elements of the Howey Test would fail:It is an investment of moneyThere is an expectation of profits from the investmentThe investment of money is in a common enterprise (emphasis mine)Any profit comes from the efforts of a promoter or third partySee what a securities attorney says in your area. 

I seem to find properties under 200k in this area while there are slim-to-none in Frisco itself.

Tell them a marketing person gave you two ideas and you're testing them out, so they're not afraid to hurt your feelings.No matter what we think we know as agents when it comes to marketing, it's how our target market responds that tells us what we really need to know.

Don't forget things like water/sewer, common electric, trash disposal, etc... 10% coc return is good enough for me but $100/mo cash flow is pretty slim, even as a conservative number.

Otherwise it'd be slim.

I am just testing the waters here.

Currently looking at Estated or Attom Data, but leaning toward Estated.Estated's API is cheaper, has simple API documentation and a user friendly interface for testing the API outputs.