The house will stay in my father's name for now, so we want most of the repairs to be paid by him for depreciation purposes (he will be doing cost segregation and taking bonus depreciation later this year).

You don’t get the same benefits as newer STR as your purchase date was before 100% bonus depreciation.

Appreciation is "bonus".

The real estate agent job will give you some exposure to this, but not nearly as much.I disagree with your statement that real estate investing is primarily networking and marketing.

Bonus depreciation doesn’t count against your income calculation.

It creates shopping lists and little bonuses like that so it has a few more things than the spreadsheet that comes with your Flipping/Estimating books.  

Not to mention it would be so much less of a headache and so much less time and energy invested on your behalf, plus much less exposure to risk, easier to manage etc. to just buy a single multifamily for $800k in a good location with strong underlying fundamentals. 

The main house is completed and as far as labor, I spent $40,000 on just labor and that includes everything from full gut demo to finishes.We are talking about a 4BD, 3BTH two story 2400 ft.² home with a bonus room.This was a full gut job, replaced…12 Windows (new construction)2 sliding doorsTook out all carpet throughout.Took out this ugly 2” thick tile from half of the downstairs portion.Removed popcorn throughout the entire houseTook one wall downA little framing workReplaced entry door 80” x 92”Drywall patchingSmooth drywall work50 recessed lightingAll electrical neededAll plumbing neededNew cement walkway instead of one walk to the front door I created two steps with two lights in each step.Install kitchen cabinets, excluding countertopInstall all three vanities3 bathtubs with one being a modern standalone tub in the masterAll tile work (bathroom wall & floor, kitchen backsplash)Installing of all hardware, faucets, showerheads, etcInstalled 8 single panel doors with hardwareAdding self-leveler after tearing out that thick tileNew LVP flooring throughout the entire house except bathrooms,all baseboards, trimsPainting the entire house, painting all the doors, painting the outside trim.Reframing the outside balconyReframing the fireplace to install new linear modern electrical fireplaceand they took care of the two trash bins.I mean, completely redone.The only thing that was not included in the $40,000 is landscaping, counter top cut and install and of course the ADU which I’m currently working on now.So my question for my fellow investors and contractors did I pay too much?

Almost all of our tenants have been with us 5+ years.Also, and some may disagree with this, but we went into a "get to zero debt" strategy a few years back so we had less exposure to potential interest rate hikes. 

It's available on BiggerPockets bookstore and comes with a ton of bonus content, too!