All this will help justify your purchase price and also confirm no hidden surprises.  

I believe that your best bet would be to either 1) find an off/on market property that already meets the 1% rule which will be very hard especially in that area in today's market or 2) find a fixer upper and buy it cheap and force that appreciation.

Federal rules require a lender/servicer to consider a borrower for a loan mod if there is enough time to consider one, if the lender offers loan mods.

Using the basic 70% rule (70% of ARV, minus repairs (and closing)) I come to a max offer of $145,200.

They have all kinds of anti contractor rules (just kidding of course) about trailers blocking the road and stuff.

Just curious to see what other people are typically seeing number wise or if there is a general rule of thumb to how much is worthwhile after cash out refi.

Some banks may want a full year because of their overlays (bank-specific rules). 

Buying something here now I wouldn’t come remotely close to the 1% rule.

I rented for 40 years, saved up to buy a duplex, and a couple years later, all the rules were flipped on their heads and the rug pulled out from under me.  

I realize that a lot of your region has had great appreciation but I think you're still allowed up to $500K tax free if you meet the 3/5 occupancy rule.