Questions about an area

[KJ Miller]

I have the lead on a couple of properties in the 64134 zip code. On paper they look like good investments. However, i know that i am still new to this so i'm trying to get some other opinions about this area. I am interested in buy and holds (BRRRR) for cashflow. The units i am looking at are SFH, 3/2 1k sqft. I can pick them up for 40-45k, about 15k in rehab to get them into top rental shape, could spend less on rehab and rent them, but i want to own nice rentals. This puts me all in for 55-60k. Should appraise around 90k per my research.

My biggest worries are:

1: Anyone that knows this area and market, does that ARV sound too high? i see plenty of them for sale around that and even higher.

2: There seems to be a large inventory of Rental Houses in this area, is that something i should be concerned about? The last thing i want is to purchase my first investment property, and have it sit vacant and ruin my family's financial situation.