I'd try and be as close and realistic (so check on HOA and what is included to ensure you aren't duplicating an expense).

A wealthy person can realistically take on a few investments that are more risky than your average person. 

There are three properties across the street that are for sale for over $115K so those properties will drive the market rate and make it more realistic to estimate ARV.

Being debt free, yes is a goal but realistically you may never be.

I have access to Realist, and there's SOME information you can gather from the tax records, but not all homes have it, and it has proven to be quite time consuming (for example, if it says it was bought/refi-ed at 27k in 2011, I can run it through a mortgage calculator to get an idea of what current equity might be).

I have realistic budgets and understand they need to make money, but at the same time I feel I've paid too much for my previous rehabs since I was brand new to the game.

@Brad Van Sickle the whole process goes smoother if you know what you want to achieve and have realistic goals in mind.

Keep in mind this 8% PM part is best case scenario. 14% is likely more realistic long run with lease up fees and service calls.

Realistically bring it to the attention ("wholesale") of  someone with the resources and experience to do something with it.

JV with seller**Realistically you shouldn't fix a property you only have under lease/option.