If you don't have savings to get more property, the leverage would only increase and the risk so why risk something when you are creating a strong foundation?

Converting the entire property to a rental later allows full deductions but eliminates primary residence tax benefits, potentially increasing capital gains taxes on sale.

TIAErich  Erich - I would echo other's comments, but also point you in the direction of a Bigger Pocket book, "Estimating Rehab Costs" - It's a 2019 version, so the actual dollar amounts will need to be increased, but it can give you a good starting point for the process that you can refine/update over time. 

You say you are new to flipping so maybe consider teaming up with someone more experienced for your first flip to increase your success rate?  

These syndicators promised seemingly guaranteed returns, much like a bond, downplaying the actual risks involved.These GPs presented investment decks showing that a few small improvements would significantly increase property values, allowing them to refinance the deals, take the 'profits,' and return capital to the LPs.

The fact someone wanted to show a 20% versus a 15% return by using a lower interest rate, meant increased risk, which you either win or lose, since you're gambling.2. 

The rental increases and equity growth makes our  market very forgiving.

I’ve personally house hacked in the Irving park neighborhood in Chicago with a multifamily so not completely relatable experience to what you’re looking to do but hopefully can provide a few insights.If you go with the suburbs in a SFH, you could rent by the room and presumably increase cash flow.

Our battery went out and our son had to crawl through a basement window but I doubt too many people could have done that, he was impressed by our increased security but didn't want to drive 2 hours back home so he found a way.  

either by increasing direct profits or creating growth or both.