Since your an estimator are the materials and labor based on facts (i.e. hard costs a labor units) or a guess.Nothing personal but I wouldn't consider anything you wrote there, if I was buying I'd do my own estimate/SOW. 

So PLEASE don’t make another huge financial decision and then tell that same person after you do it.

Make cosmetic updates if needed, offer free months rent on a longer lease, make sure your units have qualities like laundry and AC. 

I've even seen agents that will finance repairs with a lien to maximize sales price for their seller.Who you work with matters and will mean the difference between a quality BRRR that cashflows or a property that doesn't work.I love to talk real estate.

Lots of areas that pencil very well on paper but the quality of renter you will get is going to eat into any profit you may think you are getting.

3) What neighborhoods would you recommend in this price range if I'm targeting high quality tenants?

Quote from @Monish Anand: Start by looking for personal recommendations from investors in that market, then look on realtor.com or a google search.DO NOT use agents suggested by a website like realtor, Zillow, etc.

Balance data with personal priorities.

Personally that is what I wanted, an active mentor. 

He scaled with quality, going full-on luxury top-shelf.