Builder's License in Michigan

[Jonathan Mason]

I'm preparing to go under contract on my first small BRRR deal and I'm curious how many investors in Michigan have their builder's license? I've been working on homes my whole life and the numbers are slightly tight on this one especially with material costs currently. The high end of some of the estimates from contractors would essentially put me in a break-even to very small cashflow deal, but if I could do a lot of the work myself, which I'm willing to, and then sub-contract out some of the trades, then it would save me considerably and it would cashflow nicely.

House has been vacant for years and is in rough shape so it's essentially a total gut. I'm also purchasing off a family member that didn't know what to do with it/wasn't ready to let it go when her father passed. Due to the familial dealing, she's in no rush which would allow to me to get my license. 

What are the pro's and con's of having your builder's license and investing full time?