Markets with disproportionately high new construction, like Austin, TX, will see rent growth pace behind inflation or even (again) fall slightly on average.

Even if the property is short, a contract with a buyer, even subject to short sale approval, should work. 

Many developers leave the tubs without even a hanging rod which looks incomplete.

Each potential buyer has come to their own conclusion that it would be too much hassle and risk to manage in this fashion vs a traditional rental even though the average cap rate in our area has been half that at best.

Let that propel you forward at an even faster pace.

You can read a book and multiple books, but unless you are out there doing it (I.e. getting bids and getting contractors to truly get you an exact estimate) you will be far off from the numbers you want and may even lose money on the flip/rehab.The best advice I would suggest in my experience is that you should get into the line of work by either partnering with someone or working with someone on some projects prior to going into a flip on your own.

You would probably get a variety of answers even from tax professionals.

Cleveland, Ohio is a great market to focus on for cash flow and specific pockets have gone up 2x and upwards of 4x in the last 5-10 years even!

That could be thousands of dollars, and you might not even close, so they just wasted several grand for no reason.

While none of these options allow for immediate cash flow on the property (we are on the northern CA coast) the ARMS would allow us to break even.