You can make all the offers you want, but if you are relying on the (arv x .7) formula, I fear it will be a waste of time. 

This is my biggest fear with a property management company. 

My fear is I'm lowballing too much since by your calculations I should be paying them $275,000.

Perhaps you're "fear" of the manager will push her back in line.

We plan on moving back when he retires in 2-3 years from the navy.Of course I have fears about this opportunity, but the more I read and listen to podcasts the more my fears fade away.

So, at least that's one fear eliminated.  

Most states also have different criteria for small landlords vs. professional landlords with many properties.In summary I would just ask you think for yourself and dont make fear based decisions against your own self interest just because someone has a political agenda or is a de facto apparatchik of the state. 

For those that fear a bubble, I always ask if they think "timing the market" is a sound investment strategy.  

Is it the fear of getting schwillied or watching someone get schwillied?

Just from you're post alone I can tell you don't have any fear of TAKING ACTION.