Do you mean wholesaling, where you do a simultaneous close with the seller and with a buyer? 

If I were to obtain my mortgage broker's license and potentially work as an agent and a mortgage broker simultaneously what would be some pros and cons of doing this?

lets see, ive rehabbed nearly 60 mostly vacant dumps and turned them into decent ( rental) to excellent (flips) places to live, now generating tax revenues, water bill revenues, env fine revenue,..where once they did not, improving the looks of the neighborhoods for neighbors and the city simultaneously.