@Neri Bermas There is no single answer to your question, as it can depend on where you live, and what you are looking to do more precisely. 

The more I look into it, the more convinced I am that she knew precisely what she was doing - which makes me wonder how common this is. 

Jason Lovelace at Precision is great and very detailed

Great to see that you have such precise goals!

You don't have to be as precise on your numbers, your purchase point etc, because time will erase most minor mistakes.We lost some money on our first flip. 

This makes investing incredibly hard and it requires precision in execution. 

I think its wholly dependent upon precisely where you live and updated for property unique conditions.

My point - appraisers are nothing more than gut check on value and NOT a precise science, therefore if there are multiple offers within a short time of listing then the appraiser should agree with the market. 

It is very important that you find out precisely what this covers.

I'd need to know more about how old the building is, what neighborhood it's in, etc, to give you a precise picture, but here are some issues.1) You don't include any cost for utilities.