Agents are the ever optimist when penning a listing and use almost as much cliché & spin as a political speech writer.  

I am probably just over optimistic as a newbie!

Basically:-Homework homework homework, know all the project costs, logistics, and numbers and never be optimistic always expect the worst.

You're too much of an optimist to be a lawyer and 3.

I'm optimistic and I don't think I'll need to bounce back.

Even if the analysis doesn't pencil out exactly the way you've set your criteria, I'd wager your projected cashflow is probably optimistic anyway and you'll actually do better in a better location. 

And the sentence "No rehab likely needed." sounds optimistic if it is a sight unseen purchase.due diligence is key

He flew out and was terribly dissapointed as he felt long term he would just be better to stay put with San Diego and stay a little stagnate. he felt over time his equity would be far more protected in California and was more optimistic about higher rentals rates. 

With those taxes, the 50% rule is probably optimistic but managing it yourself saves you 12ish% so that probably balances out.Per the numbers, it looks great.

Either the $700/month for a $180k house is WAY too low or the appraisal for $180k is WAY too optimistic. $700 in monthly rent for a $100k house would stink even in California where the home value/rent ratio is still relatively high.