Before you go much further, I would get a local agent or someone who can give you an accurate comp/ ARV.  60-115k is a very broad range.  

If not you will have a heard time coming up with an accurate budget for repairs.  

You will be able to make accurate repair assessments and estimates which will lead to better buy-side offers for you and much greater customer appreciation from your buyers.Owning your own investment properties is one of the best ways to learn, but that takes some time. 

That is where the accurate information is.Asset managers don't usually take back up offers.

Or, more accurately I'm in the market for flip and hold.

This is do to the algorithms they use and while I understand this form a business standpoint, human intervention and logic is sometimes needed to deliver the most accurate information.  

Your agent should be able to direct you to an attorney who can provide advice on this as well as accurately describe the risks to both sides. 

How accurate is comparing properties by their price per sq foot?

As an investor you need to run comps and having access to MLS is the only way to get accurate comps.  

Although I haven't had the property appraised any other way so I'm not sure if that $51,000 is entirely accurate.