Also, as an example, if I sell it for $600,000 over purchase price but can show that I invested over $100,000 in improvements, can I add those improvements to the purchase price and to show that I made less than $500k on the sale and not be subject to capital gains?

In this high-interest rate/high-price market, house-hacking is more about offsetting as much cost as you can.

So, what if prices triple again and you want to sell some?!?

Especially around here with the prices. 

Competition is definitely lower as well as prices, but distance is usually a factor for most people.

They are asking for a sell price??

Purchase price: $507,500 Me and 3 partners got the first deal under our belt.

I am looking at this property for our first flip in California. https://www.zillow.com/homedet...Single family residence Purchase price $450,000Renovation $80,000All in $530,000Selling price $630,000Closing costs $30,000gross profit 70,000Financing would be hard money and some of our savings. 

I saw that the house was for sale initially, but I wasn't willing to pay the asking price. 

Rates are higher than a conventional investment, but in some cases you may find these have lower fees since a DSCR lender isn't controlled by Fannie/Freddie loan level pricing adjustments.