@Kevin Kim, as noted, how long it takes depends on scope of work, availability of materials and labor, completing whatever the PMs process is (which sounds like it includes the closing statement).  

Correct- Passive losses up to $25k offset ordinary income, assuming you materially particpiate in the property and AGI is under $100k. 2.

If so, you could open a can of worms by exposing your tenant to a list of hazardous materials. 

A couple issues you'll run in to trying a BRRRR in Tampa:- finding a quality contractor right now that has availability (supply chain is only an issue on certain materials such as shingles, windows, and other items but it does not affect every reno equally)- finding a deal that cash flows (or breaks even) once you refi.

Was my understanding of materials etc correct? 

Great material. 

However, of recent, I did a real estate class which was advertised on FB.

Is there a better place to advertise when renting by the room?

Building material shortages, combined with price increases and a shortage of construction labor continue to constrain new home building.

I currently have 3 rehabs going on and it starts to get a little hectic keeping contractors and materials and receipts and payments in line.