Highly desirable location, school district, is a "coveted location" by locals because most of the land is developed and it sits off an extremely accessible roadOur current rent: $2,500 + Utilities (the home could almost certainly rent for $3k).

Noisy areas are definitely not desired.

Based on your goals, desires and budget; their may be another better real estate strategy than wholesaling or wholesaling could be the perfect fit for you. 

Sharad has some particularly good tips on identifying what neighborhoods you would want to invest in and checking in with the local police department duty sergeant with respect to crime statistics and desirability of areas. 

I don't know many buyers that have the desire or ability to put an extra $16,920 'down' at the buy to save $1080. 

Yes, I'm here locally but desiring to get the best service possible, given my current experience with buy/flips.  

Such prior reports are material to the desirability and price paid for a property by a willing buyer.”

I know that if I want to get a better deal I have to be willing to go into maybe not that desirable areas.

You'll find your MAO (maximum allowable offer) buy taking the ARV then subtracting all rehab expenses, holding/transactional costs and desired profit.

It's one of those "least nice properties in a nice area" situations; I'd be looking at holding the property over the long term and there is ample new, high-quality construction occurring in the neighborhood, which is situated in the heart of the most desirable downtown area in my city.