It is absolutely possible to get your RE licence while on active duty.

taxes, insurance,repairs and maint, management,vacancy, bad debt, evictions, utilities, snow removal, landscaping, pest control, capitol expenditures, licencing, any municipality required inspections, corporate entity expenses and annual reports, and thats all i can think of.Maybe don't think of this like a bond because you are purchasing risk as well as an asset, and should not be taken lightly!

I think you will find a wealth of information available to you here  at BP - and you can certainly use it attain success - but Bigger Pockets , in and of itself - is not going to take you where you need to be anymore than a drivers licence can get you across town.

I am currently in college and am looking to complete my real estate licence through OREA (I live in Ontario) as I have some spare time at the moment.  

., foundation, electrical, plumbing etc was done by regular licenced crews, so, imo, you should not be concerned, beyond normal.

If I wanted to know about how the investment work, should I get the licence and get the job first in order to familiarize with the field. 

I got my real estate licence a couple weeks ago, and I was thinking about starting as a real estate agent.The only problem I have is that I have to pay a lot up front, I may not see a commission for a while, and I want to start saving up money for my investments!

I have taken the necessary courses to attain my real estate licence, and I plan to start investing in Multi-Family homes within the next 1.5 years. 

I'm also licenced with Keller Williams.

Given these disclosures directly in the ICX listing, I would guess a) the property has been on the market for some time {and will continue to be on the market for more time} and b) someone else has looked at the property and, based on their findings, the Vendor had to disclose the non-permitted renovations.In analysing this property, I would do the following:1) until there is a written assurance from the City that the current operating licence can be amended to reflect the actual use of the property, I would evaluate the property with the revenue from only the 8 licensed units.2) get in writing from the City inspectors what work-orders are outstanding on the property and/or what work they will require to be completed when the property changes hands;3) find out how many days the property has been on the market and how much interest there has been  to-date.