After a month of staying in the unit, the Tenant calls me to tell me that they need to break the lease because he has to relocate unexpectedly.

Flips - especially your first few - can be somewhat dangerous if you misjudge your expenses or run into unexpected expenses.  

Needless to say I no longer make guests pay for worthless polices that do not help me or them  (Just increase your rental by the $59 and put it in the bank to cover unexpected damage(s).

However, due to unexpected construction costs and delays, the project is now at break-even.

Before proceeding, ensure you have a comfortable cash reserve for unexpected property expenses and maintenance.Property Management: Decide whether you want to manage the property yourself or hire a property management company.

A few things to consider when starting out:1) Be sure you have liquidity for the down payment, but also a healthy reserve account, since unexpected costs will come up while owning real estate. 

The primary goal of cost segregation is to identify components that are not real property and therefore can be depreciated faster (typically over five, seven, and 15 years).

With older buildings, we need to be careful with the components of the building, such as roof, driveways, mechanicals.If you have to change the roof in the next 5 years, there goes any cash flow.

Does anyone have any actual data on the return on this component (previous appraisals, paired sales analysis, comparison on new construction with/without rooftop decks)? 

I think, in general, unless you're an extremely high W2 earner just looking to get into real estate for tax purposes, buying for cash flow gives you the durability to weather market fluctuations as you're never in a position where your back is against the wall and you need to sell... unless you have debt coming due.Now, that being said, if the true cash flow, after allocating for all expenses, vacancy, maintenance, capex, etc. is in the black, then I think taking a 5% CoC return in an appreciating market isn't a bad move, especially if there is a component of value-add.