Anything over that could mean that the property is overstaffed, or it could mean that management is delivering a very high level of service such as in a luxury property that has a doorman and all sorts of staff that you don't typically see in garden style apartments.

A lender or appraiser will typically use the most recent MLS comps (for updated properties) in the area to determine ARV.

Typically, unattended to small maintenance items will become bigger issues over time.

Typically, private lenders pay anywhere from $500 to $2,000 for loan documents, depending on the complexity of the deal and the attorney’s rates.

The suburbs in Philadelphia also great investments but typically the price points are a bit higher. 

Also, what's the typical fee structure for single-family homes?

What are the typical fees that turnkey investors charge?  

Investors typically won't care that you're representing the seller and others will prefer that you're direct to seller.Listing it on the MLS will get the most inquiries for the property.

Unfortunately, if you ask more than one question, they only answer one, and it's typically not an answer to any of the questions you asked. 

I am not familiar with Horn Lake and the economic conditions you mentioned as a CON, but if you already have those concerns, on top of a large rehab, which typically don't shrink as you get started, and being OOS and needing a PM team, you may want to consider other options as you get started.