Draw a half mile radius and gear down the bed/bath count, square footage, garage size.

In any case you need to know your market and what properties are selling for with regard to comparables and/or financial metrics.Generally speaking, yes, adding bedrooms and square footage usually more impactful than just paint and flooring but not always and adding that stuff is much more permit intensive and expensive.

But the square footage does not add up.

I can literally scan square footages of properties against their price and eliminate 9 out of 10 properties almost immediately because they don’t fit the profile that I identified works best for my rentals. 

My rental is down in the corner at about 25% of the footage with their own parking and yard.

Checking to see if anybody's had experience lifting a house I am looking to do a flip and the numbers really only make sense if I'm able to raise the home and add a few rooms any suggestions on contractors or tips are...

In terms of the coverage and premiums it will depend on property type, square footage, and zip code/location.  

Some towns near me require 3 acres per dwelling regardless of TH square footage.

Keep in mind, its important to make sure you are comparing similar houses (same number of bedrooms, similar square footage and amenities).

In my opinion, the property is priced fairly because of the square footage and quality of the home based on the photos.