They tend to keep the space clean for the consumers and you usually have landlord friendly tenant laws.I have been down the multifamily route before and it is a more intensive asset to manage and a lot more BS with residential tenants and all of their excuses.I didn't like it but I do not like regular residential SFR either.

If you can start small with lower risk to gain experience, test a market and a team etc then I think you're right about it being a step in the right direction.

Yes, if I leave my BD, the licenses will be inactive and I have 2 years to find another BD before I would have to re-test for all of the licenses.

Beside my daily work I am studying to rock my RE license test next month and looking for a mortgage broker!

I currently own one buy and hold rental property (in addition to my personal residence that I own) and I am pursuing my Real estate Associates License (taking the test the first week in July).

If I get lead tested and there are high levels, do I open myself up to exposure? 

It is really appreciated.Just as @Brian Burke said, I am finding out how hard it is to do due diligence on the institutional investor.The sponsor said that they have a long standing relationship with the institutional investor although it does not appear they have had to go through a downturn in a deal together, which in my view would be the big test.

The practice tests online from Pearson are extremely helpful in preparing for the exam.

There are also "reserve" requirements that pop up when you have multiple financed properties, which require a certain amount in your accounts AFTER closing,  that only get more intense the more properties you have.  

I finally passed my test (finally!)