@Joseph FennerThere is an old one that somehow I still use.You would think with the money this site makes they could create one.

@JD Martin agree 10,000%What I am surprised about is I had a call with someone in Austin today and in sw Florida and they both said things are awful and prices are dropping at high rates - curious don't hear as much chatter here about that as it could be an opportunity 

In the future, either get your Real Estate License so you have access to the MLS, or make friends with a realtor so they can get you comps to get an ARV.  

Or should we sign the contract now and set the execution date for two weeks later?

I would say if those are the true numbers, the place would have sold instantly already.Purchase of $179k and rehab of $150k to get a value of $735k is almost unheard of.Main red flag is that something else major is wrong with the property.  

I just wanted to get confirmation from the pros.

I've been wanting to get into real estate since when I read Rich Dad, Poor Dad by Robert Kiyosaki in 2004.

Quote from @Kristin Vegas: He sounds like an amateur that's probably in over his head.

I have an accounting degree, and I still outsource my taxes.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.