The fix-up and increased value will not matter to the IRS as long as you sell within a reasonable time frame of the house passing into the estate.

They further out the ripples go from the stone, the less appreciation your receive while the cash flow increases.

Where I got into my first big learning curve was when I bought my 8 unit, both in the increase in number of tenants and because it was a fixer upper with inherited tenants that had also been neglected and mismanaged for years.

My plan for this year is improve my credit, get my real estate license (to increase my income on top of my W-2), possibly career transition into the property management space (to learn more), and save as much as possible and learn as much as I can.I’d love to house hack close to home but my area is so expensive it seems like it’d be close to impossible. 

House hacking is a financial no-brainer, it eliminates you single biggest monthly expense, so you can increase your savings rate.

So your net earnings ( increase in wealth) is $650.  

For investors, this can mean boosting rental income or increasing the property value significantly.

Cost of value add was $120k, so over $580k of increase above costs.  

The tenant base, on average, tends to be rougher on the properties, moves more frequently, and cannot absorb any rent increases.  

The program is neither good nor bad, there's just different pros & cons compared to cash paying tenants.Have offered to schedule a call with you numerous times to try and assist you, but you seem to prefer posting & posting & posting - which will take so much longer:(What are the chances you'll actually invest someday, given how long it's taking you to do basic research?