The rent is adjusted down since renters can get similar sized properties at a community with nice amenities - and more - for $1165 on average. 

You may also want to consider the rehab loans besides the 203k loan, its a great product but it can be a bit more complicated than other rehab options and in the hotter areas your offer with a 203k loan ay not look as attractive to a potential seller.

It takes about 5-10 hours per month on average, but I believe that I'm compensated well for that time.

What I can recommend is taking some floor plans and product from nearby neighborhoods or houses you like and backing out the estimate from that.  

That being said, home values are still around 80% of the national average so  you (and the tenants) get good value.  

I think 850k might be close to average these days for a 2 bed 2 bath (2/2) or a 3/2 SFH, but there are certainly move-in ready homes in the 700-800 range within a few miles to the ocean that are 1/2s or 2/2s. 

Typical average properties are getting 5, 10, 15+ offers within days..  

Average in Mitchell is $375-$775 highest renting unit is $850

Nancy,Forgive me for two things: First, my not so tactful and apparently humorless use of the word "shamelessly" (although, if you have a good product, you *should* be shameless about it).

In general, a strong agent will get the average seller 11-18% more than if they sell FSBO in a shorter amount of time.