If for example it took 4 months and flipping is your full time gig that isn’t great because it means a profit of about $15,000 a year If it took two months and you have other income sources and didn’t end up spending much money on it and only put up a small amount of money then I’d say not too bad .I’m sure it was a good learning experience for you though and at least you didn’t lose money

My commissions have more than paid for then license and allowed me to spend a little more on deals than I normally would have since I get to factor in the commissions.

However, I wouldn't spend money simply to create a loss (spending a dollar to save 25 cents in taxes doesn't make sense). 

I've built a financial model that I help other investors analyze deals so let me know if I can be of any assistance.

Another association I belong to, Ive assisted with property tax appeals, connecting association with a capable law firm.

With that said, the desert cities are changing their vacation rental rules often, so plan on spending some time talking with local experts and understanding not only what rules each City has now, but what changes are likely in the future. 

It wont be your best investment ever, but it at least it will get you started.2) If you really want to spend the time making sure you get a home run, you need to find a distressed property that you can put the equity into.

I have always loved real estate and would spend lots of bonding time with my dad, driving around wherever we happened to be, looking at houses, playing "guess the price" on the for sale ones, and dreaming about owning this or that, or having a rental here or there.

Good luck and let me know if I can be of assistance.

You have such an advantage in your work field for real estate happy to network and assist.