I'm leaning more towards Tacoma but I need someone to walk me through and hold my hand while I look in Redfin and figure out what the difference between the price and the estimate is all about and what it means for the future value of the property.

We fought for closing costs, better estimates, and put it a lot of sweat equity to keep costs low.

Once you come up with that number, estimate how much it will cost them to get the infrastructure in place for their intended use of their property without you granting them an easement to access it (if they can even do that).  

A few items that I need help with (having very little experience in construction):1) Estimating costs with a contractor who I've used before but not for a flipping deal.  

So I drove around my neighborhood and estimated that I had at least an hour worth of gas (for the people who ever went through those hard times and know exactly when your car will shut down because of having no gas then you know what I am talking about) so off I wentSo within a 60 minute period, while the rain was pouring, I went out there.

I’m aware that I’m excluding fees, expenses, rehab estimates, etc. but let’s keep it very simple for now.

Does anyone have a formula or estimate for calculating insurance cost for 12-32 unit properties that are Class B/C in Mobile, AL?

Not sure what rental demand is like in your area and the quality of tenant, but those are important factors in estimating your expenses.

I believe you need 20% equity in the property in order to avoid paying PMI, but it looks like if you hit your estimated ARV, you should be able to get the property reappraised and eliminate the PMI assuming you have 20% equity! 

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.