Are you spending a lot more up front on a rehab or capital expenses that aren't listed here? 

Quick assumptions as you said you are a student:- You are low on capital and experience in real estate.- You are rich with time, ambition, and energy.** Focus on the latter. 

This is a way to structure your sale so that you get cash at closing and you can defer the capital gains tax and depreciation recapture for 30 years.

Find  a partner who has a wheelbarrow full of capital that you can plow into a deal  and show their funds as your ability to close ( assuming they are good with it.... ) Good luck .

What are my best options to avoid capital gains tax?

Fund that flip, patch of land, lima one, finance of america capital, lending one, are examples of hard money.Private money comes from a person you have a relationship with that lends their own money.Some ways to creatively finance a flip: Partner with an experienced flipper on your first deal.

This would avoid having to pay taxes on any capital gains since you are using the condo as an investment property, and you would retain the asset which someone else (your tenant) is paying down the loan balance. 

Once you know what a deal looks like, you will be able to capitalize on it when you find it.

Goal in Real Estate and Stocks/Bonds is CashFlow & Capital Gains.

Also, I live in california and it would take massive capital to get involved with my own house here as a first investment.