So we present one analysis that takes into account as many realistic risk factors as possible & is back it up with supporting data with references.

Factor in trucks , equipment , payroll , licenses , insurance , fuel , rent .

The income is not factored in since section 8 and they run income guidelines.

I used the calculator and factor in what I believed all the costs were based on due diligence.

Have you factored in other expenses?

If you choose to pay yourself or not that is up to you, but if you are looking to sell these one day it makes sense to factor in the management fees.  

I am a Local Architect who specializes in Residential Remodeling and have a lot of experience working with various municipalities within about a 50 mile radius of Chicago, so I believe I have a good understanding of what to look for a far as the structural integrity and necessary upgrade/work for the properties to be flipped, but I know there are a lot more factors to consider in addition to the construction side of the Fix & Flip.Thanks in advance!

So again, not a reason to sit on your hands and do nothing but this uncertainty should definitely be factored into your calculations. 

Important factors are:The situation causing the sale arose during the time you owned and used your property as your residence.You sold your home not long after the situation arose.You couldn’t have reasonably anticipated the situation when you bought the home.You began to experience significant financial difficulty maintaining the home.The home became significantly less suitable as a main home for you and your family for a specific reason.So, for all the reasons I mentioned in bold above, would it be possible to get out of paying capital gains if I sold? 

Hey Vinh, I'm from about an hour and a half south of Buffalo (tiny town called Clymer, NY right in the corner).