I study music education but have always had real estate as a final goal in mind.

Must be efficient in Microsoft Office Suite and QuickBooks.Light bookkeeping using QB, general office duties, maintaining client files, running errands, creating flyers for properties and other announcements.Able to Multi-task and work efficiently.Must have excellent oral and written skills to correspond with clients a must!

See Uniform Capitalization Rules earlier.The costs you can choose to deduct or to capitalize include the following.Carrying charges, such as interest and taxes, that you pay to own property, except carrying charges that must be capitalized under the uniform capitalization rules;Research and experimentation costs;Intangible drilling and development costs for oil, gas, and geothermal wells;Exploration costs for new mineral deposits;Mining development costs for a new mineral deposit;Costs of establishing, maintaining, or increasing the circulation of a newspaper or other periodical; andCosts of removing architectural and transportation barriers to people with disabilities and the elderly.

I plan on spending 15-25 hours a week on the flip myself (I've designed & built a house for my parents & maintain my parents rental (their old house), so I'm pretty handy).  

And Rehab Costs would be the cost to tear down and construct the new property, including all hard and soft costs that aren't factored into the Fixed Costs.For example, if I have a house that I can tear down and rebuild a 2000 sf property that would sell for $400K; it would cost $100/sf to tear down and rebuild; I'd have $50K in Fixed Costs; and I'd want a 20% profit on the resale price ($80K), my max purchase price for the tear down would be:MPP = $400K - $50K - $80K - $200K = $70KKeep in mind that the rehab costs must account for all of the following:- Site Planning- Zoning Approvals- Utility Installation- Permits/Impact Fees- Environmental Studies- Etc...If these costs aren't factored into the per-square-foot construction costs, you need to factor them in separately. 

But also give thought and study the fundamentals of being a virtual innkeeper.

If so, aside from your $3K / monthly expenses - what are all of your monthly expenses for living in your house and maintaining your rentals?  

I plan on spending 15-25 hours a week on the flip myself (I've designed & built a house for my parents & maintain my parents rental (their old house), so I'm pretty handy).

I currently am studying to get my real estate license.

If there are specific areas of study that I should focus on, I am all ears!