@Andrew Syrios However, adding a bath would greatly increase the value comp range, instead of comparing to 1.5 bath houses we can compare to 2 or 2.5 easier.

(Typical realistic expectation)To qualify your response, let us know how many wholesale deals you have done in the two years.For further insight, you can give a selling price range as well as your typical expectation for that same $25000 acquisition.I have no idea if a wholesaler expects to make $1000 on a typical deal, or $20,000... or whatever the market will bear. 

Some of these other areas have rents ranging from $400 to $800 for a 1 bed.

You will likely get a narrow range of prices.I hope this helps.

I know the formula is a guide/base line but when you have ARVs hovering around the million dollar range, is there a rule of thumb or a percentage amount increase to determine purchase price?

Around here properties range from 400 k or so and rent for about 1800-2000....so right there you aren't even close to the 1%rule.

Service ranges all the way from $99 to $450.

So I'm currently taking over payments in the 2.5-3.5% range and charging 5-6% (more or less).

Comparable properties range between $260K - $280K.Why I want to buy:Save on rent as the mortgage will be cheaperFix the house and flip it while living in, holding it for 1-2 years for appreciationI would like to offer a low price on the property (reduce 25K+ off retail) since I plan to buy it as is, and upgrade everything in it since everything is from original 1990's construction. 

For higher end finishing we've been in the $200-$250 per SF range on previous historic restoration projects when keeping the original structure & character of the property.