Yes - you should budget all the associated "costs" with the rehab including renovation costs, holding costs, selling costs, etc. 

There are two condos in my neighborhood that are trying to sell, but have been on the market for 100+ days.

But here’s something to keep in mind: when you sell a property, you usually have to deal with depreciation recapture, which is another type of tax.

I think thats true if the builder sells some builds and keeps some.  

It was written before the days of YouTube, so it's not full of the common nonsense where authors sell a course, send you to their website for downloads, or write a follow-up with additional "secrets" they forgot to put in the first book.Long-Distance Real Estate Investing by David Greene was another good one.

I believe, off the top of my head, it's single digits of rents actually have rent reported to bureaus. 

We were in a hurry to sell the property as we were in the middle of COVID.

By the way- You may also decide not to sell the properties but refinance and rent. 

Purchase price: $120,000 Cash invested: $40,000 Sale price: $215,000 Probate deal.Beautiful 4bd, 4ba acquired from a family looking to sell the home after receiving through an estate.

The property is a duplex, and he plans to give all the proceeds from the sell to his daughter.