Thinking about getting my license myself instead of hiring one. Is that a bad idea for a small landlord?

Costs first, since that's the part people skip. Licensing is regulated state by state, so every number here is a range and you'll need to check your own state's real estate commission for the real figures.

Pre-licensing education typically runs 60 to 180 hours depending on the state, and courses cost roughly 300 to 800. The state exam is usually under 150, fingerprinting and background check maybe 50 to 100, and the license itself a few hundred. Then the ongoing part: to practice, your license has to hang with a broker, and brokers charge either a desk fee, often 50 to 200 a month, or a commission split. On top of that, MLS access and Realtor association dues commonly total 600 to 1,500 a year, and continuing education renews every one to two years. Errors and omissions insurance is required by most brokerages and is often bundled into the fees. Budget one to three thousand a year to keep it alive whether or not you close anything.

On the savings math, you don't save the commission. You earn the buy-side commission if the seller is offering one, and then your broker takes their split, and the rest is ordinary income you'll owe tax on. That's a different number than a discount on the purchase price, and your accountant should tell you how it lands for you.

The disclosure point you heard is real. Most states require a licensee to disclose their license status when buying or selling for their own account, and some require it in writing in the contract. It doesn't stop you buying. It changes how sellers read your offer, and a motivated seller who learns you're licensed sometimes gets less motivated. Ask your state commission how the disclosure rule is worded before you decide.