If the neighborhood could accommodate a 5th unit and it truly adds to the property for aesthetics as well as utility (i.e. is there a place to park, nearest city utility access, septic system capacity, etc) it would certainly warrant investigating the potential the ROI for building a unit.  

This seems like a good investment of time and money as it could save me thousands in closing costs and give me direct access to more opportunities.

I’m not sure if you’ve looked into it yet put the BP premium membership gives you access to the BRRRR tool which basically does the calculations for you and shows you net cash flow.

Also make sure you are in agreement with how the decision making process is going to work and that you have access to all the data related to the deal. 

Likewise, since hard money has become less accessible, you will see a smaller quantity of players but the ones that remain will be cash heavy.

Passed RE test and would like to get linked up with broker without so many fees and monthly charges, trying to work it as a side hustle and get access to MLS.

There are some recent sales comps in the area but I don't have access to the specific data other than $/sq-ft and I don't believe this gives me a good comparison because I don't know what those properties cash flows were.

I recently got my license so that I can gain access to MLS and lock boxes.

Would your advice change at all if you were a broker being approached by investors with their agent license, who don't intend to represent clients, but just want a place to hang their license in order to gain access to MLS and lockboxes? 

You might pay a little more in origination fees, but the main advantage of mortgage brokers is that they have access to multiple loan programs.I could connect you with one if you don't know any, but chances are you probably do as mortgage brokers these days are like real estate agents - everyone already either is one, or knows one :)