There are plenty of duplexes and 2/1's in older neighborhoods that you could put some sweat equity into in the next couple years and turn a nice profit.

@Logan Larochelle, if you can document you have lived in that home for 2 out of the 5 years immediately prior to its sale you can take the first $500K in profit tax free if your married

My first questions are as follows: Should I pursue a real estate license now while I have a little more time as opposed to when I have a full time job?

You need reliable labor, expensive machinery, a comfy reserve, and farming and farmland are probably one of the least profitable real estate investment strategies... at least from my sights. 

A change of the HOA to $300 (which is possible and still good for the loop), would wipe out all profits. my 2 cents.good luck

That what is I prefer; lower profits but less headaches and consistent paying tenants.

Property management companies have no such incentive; they usually PROFIT from evictions and turnover while the property owners suffer.Interesting Chart, BTW!

The basic concept of a lease option is that people want a good deal of money for the property, but it's close to retail, so flippers and landlords (generally) don't want it, because it doesn't allow for profit.

Then I thought I'd just pay off my house in CA and pocket the rent as profit every month.

You will give them the land to build and they will build improvements on it and you guys split the profit and equity?