I know there is a huge spectrum for what tax you will owe on a flip but can someone provide any guidance on what rule of thumb I can use when modeling my profit on a deal?

Sadly, there is a high probability that they wouldn’t know a “deal” if it bit them in the face, much less be properly prepared to manage it and successfully execute the business plan (if they even have one).On the other end of the spectrum there are those of us that have bought and sold hundreds of properties and even thousands of units, have survived market cycles, have advanced forecasting and modeling tools, have the financial strength and experience to qualify for the debt, and have the time and team to find opportunities and properly manage them.  

On the other side of the spectrum is the house hack technique.

If you decide that you would like a more passive approach to investing, then I would recommend that you consider the full spectrum of ways to get involved in real estate and the relative returns that they offer before deciding how to commit your capital.  

Capital preservation and yield are at opposite ends of the spectrum, but you can find pretty good yield without a ton of risk if you either know how to find the deals yourself or invest with someone that does.

You're talking about a spectrum of "quick turn" strategies that range from doing no work and selling at a very discounted price (usually 60-70% of the after repaired value LESS repairs) to completely fixing up the property and selling to a homeowner at close to full price.

Welcome to the site @Kevin MarquesI suggest you make sure your 1st investments are on the higher end of the neighborhood spectrum.

Most properties around the country with high cash flow are those in the bottom half of the spectrum.

I'm kicking *** with cash flow, but if I invested for appreciation only, I'd be losing my shirt.I guess that's the great thing about BP, you get people on all sides of the spectrum. 

Also I'm targeting the lower price end of the spectrum, Total Assessed Value less than $200k.