So, scope out the competition on #1 & #2 above to understand what the rental or sale market expects.- You will lose money if you go overboard!

So if I’m understanding correctly, if you sell your home within 2yr of purchase, you don’t have to pay capital gains taxes? 

Its my understanding through my reading/research that 35% is the typical number.

understand the 50% rule

I'm seeking to be in an environment with like minded individuals to learn and network to grow my portfolio and eventually network to collaborate on larger deals once I have a better understanding of the commercial side. 

Time and practice will still teach you as you do deals but it will help you understand what things costs for the size of the property 

I would agree if we were talking about financial statements, but as I understand it, we are talking about tax basis reports.For tax purposes, one can use a modified cash basis when filing.

That's the process as I understand it.

I had to go that far away due to the insane cost of real estate in Boston, so I fully understand the predicament.

My understanding is that the ballpark standard of "unless it would be outrageously tough" (something along those lines) is what applies if you're doing a rehab, seeking new permits, doing structural changes anyways, and things of that nature.For existing pre-ADA structures, my understanding is that the standard is more along the lines of "if it can be easily/cheaply done, you have to do it."