Am I more likely to be able to add $50k or $100k of value above cost in a high Cost RE market or a low cost RE market?  

Refinancing has more nuances than it seems, and so do closing costs.

I predict that the substantial home price cost savings and greater control they enable the buyer to have will make them grow in popularity.

It costs me $1,500 to evict a tenant with it usually taking two-three months.

I decided to buy the property from my grandfather using a gift of equity, which allowed me to take over ownership without having to come up with the full down payment and pay for the tax lien and his closing costs.

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

Is saving the fee a PM charges worth the potential thousands in cost and headaches?

For cash-on-cash evaluation of rental properties, it is critical to identify ALL of  your acquisition costs. 

Do you understand the added complexity, work involved, and costs? 

Your net gain is your net sale, minus your adjust cost basis.