On a practical level, if you're too low any realtor will tell the seller how much more they could get individually.

@Michele Fischer   So it is really common practice to raise rent a little each year?

I practically grew up around real estate.

Though I'm still keeping my eyes ears and options open just in case that unbelievable deal comes along..I'm using this time to learn from the experts, networking, and practicing with BP's analytical tools with the properties now on the market...you never know...good luck to you too....z,  y

Expecting you to cash flow the project from outside sources of income does not sound practical.

For me the online practice tests were helpful.

@William M. it's a wide practice that heavily unregulated but heavily fined by the RE Commission.

Is this normal practice?  

I have been practicing running the numbers on properties I find, but I have no idea how to estimate ARV.

@Neil Henderson I have many complaints about VRBO/HA's technology, fees, and practices, just like I have complaints about Airbnb customer service, and strict communication rules but if someone is asking from a "how do I make the most money" standpoint I suggest use all the services you can including facebook and a personal website and see what gains traction.