Julie, it really depends on the type of coverage you will be wanting/needing.

Getting your license for educational purposes or to help learn markets due to access the license provides could be worthwhile depending on the individual but rarely for someone just starting out trying to save on commissions. 

If you want to use your money you can be a "private lender" but it only allows you to have a few loans at a time.You are better offer taking $250K and spreading it out over 8-10 rental property purchases depending on what state you live in or buy in to maximize that capital. 

Rent here is fairly expensive as well and can be similar to mortgage payments depending on the percentage downpayment, though there are also ongoing concerns such as fire and earthquake insurances.

Hi @Jacob Palumbo, I think location depends on your strategy.

You can look to do a 1031 depending on the numbers.

Sometimes you can splice into the other bathroom circuit, depending on how many outlets it serves....Other than that, it's just basic construction stuff.

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

It depends on your scope.

Rental income flows through to the trust or beneficiaries depending on setup, and proper tax planning with a real estate-focused CPA ensures compliance while optimizing write-offs and long-term tax efficiency.