What would be the pros and cons of being a real estate agent and at the same time an investor.?

Lots of pros, one big con. The con is that you are presumed to be a sophisticated user. Especially if you acted as agent on the transaction, that's unlimited liability here in California for many years. It's also harder to persuade a court that you knew nothing of defects you failed to disclose. For this reason, I do not like listing my own property, never mind that it would save me thousands, and I advise potential clients to steer clear of those who make a habit of listing their own property.

On the plus side, it means you can get paid as a buyer's agent when you're buying for yourself, it means you develop a much better feel for negotiating and pricing and when an offer is and is not likely to be accepted, which helps you not only when you're buying in your own person, but when you're working on behalf of a client.

Pros--you get to keep your commission on properties you buy

Cons--As an agent, you actually have more restrictions in your activities than if you were not. And it gives you no upper hand, you can research and network just as easily not being a Realtor.

Pro- If one slumps you have the other for cash
-Knowledge
-Will have some inside info. on what is for sale
Cons- One will suffer b/c they are both extremely time consuming unless you have a manager (big bucks for a good one)
-depending on how you do, you might be thrown into a higher tax bracket
-You could end up just having two jobs that don't cross often depending upon how you do it
-Depending upon what you are selling and buying...some ethical issues could arise