Additionally, I worry about your approach as it really relies heavily on appreciation in those areas, which traditionally do not appreciate much. 

If you want a place you can't rely on a counter offer.To the comments about his RE agent not understanding investments - he didn't mention whether he was looking for an investment or a SFH to live in.  

I just did a quick google search and Baltimore County requires all rentals to have hard-wired smoke detectorshttps://www.baltimorecountymd.gov/News/PoliceNews/...In addition Baltimore REIA has an article which indicates that the city requires hard-wired smoke detectors as well:http://www.baltimorereia.com/smoke-detector-law/If you read the Baltimore REIA article carefully it lays out when battery powered detectors must be upgraded to hard-wired but of course you should not solely rely on their article.

Do not rely on it for legal advice.

Do not rely on it for legal advice.

This allows the client to directly administer actual investments made with the plan, rather than rely on the custodian to do the processing.This Checkbook IRA LLC structure does provide an advantage to investors who will have multiple transactions or investment types that generate a lot of transactions or are time-sensitive in nature. 

Working from out-of-state I need to rely on the generosity of the Bigger Pockets forum members to connect me with reliable local people.

Unless I'm totally missing something that seems like a way to get around the hassle and headache of relying totally on the accuracy of your ARV (not to mention the bank/appraisers willingness to match that when the time does come to refi) concerning the BRRRR method.

As for the appraisal, if it's determined the home is worth only $22,500 you are still ahead of the ball game.DO NOT RELY STRICTLY on ZILLOW.    

I build vacancies into my expences and will rely on that ahead of increasing my risks.