I’m also working part-time and plan to continue my job after graduation to save up enough capital to start investing in real estate.

Then it could be quite different and just make the gate motorize, move in base and rent to trucks ( yes i get way over simplified), going to look for more resources on that possible route as the required capital would be drastically less for possibly a better ROI. 

It is the gross income minus major capital expenditures. i.e.

They are happy to provide capital to the go getters.

You are not stuck using your capital and they can fund the rehab portion 100%.

I don't think there is going to be capital gain.Or should I go through an Escrow company or a Title company anyways or another professional for some reason?

You an use this if you are either looking to invest passively, or, if you are raising capital, refer back to it, and focus on these three pillars:The biggest mistake I see passive investors make is they focus on the deal, what's my return, when in reality, that is the last pillar they need to focus on.

Since you lived there more than 2 years in the past 5 most, if not all, of your capital gains should be tax free.  

My preferred card is with Capital One. 

In one of my projects, the landowner agreed to carry back a note, which freed up some capital for construction costs.