House hacking is a farce for many reasons, also. 

I would highly encourage paying a GC to walk deals out the gate, have them give a scope of work so you can see what items costs.

It would/could be only 15% capital gains tax and yes you could/would deduct all selling costs including commissions and transfer taxes.

That cost me about $1,000 each time. 

I've been reasonably happy with this so far, since it's made the process fairly passive. 

Quote from @Dan Mcguire: One reason not to invest, is not to lose money.

For the moment though, I am just trying to gain a more robust understanding of all things real estate that I could reasonably see in my future.  

Tax Savings with Cost Segregation: With a $2M property, cost segregation allows $316k depreciation in year one instead of $28k.

Simply put, we start off with the As Repaired/Completed Value (ARV), then subtract from that number a reasonable profit, the rehab cost (scope of work), which we've gotten good at, a contingency reserve for any "unexpecteds", our cost of capital/carrying costs (interest and costs of the leverage used), and our costs/fees on the buy and sell sides of a flip.

Attorney’s Fees; Collection Related Costs; Jury Waiver.