Do I need to adjust my price range?

The price doesn't sound abnormal to me for a real tax pro.

Personally, I've been looking into more fixer-uppers and value-add opportunities where the initial purchase price is lower, and the potential for appreciation is significant.

I have a lot of knowledge I'm hoping to gain so even if I am missing out on some of the profit I could have made, to me knowledge is something you cannot put a price on when starting out.

After the appraisal, the house got undervalued, so the seller had to bring the price down and agree with that. 

TIA.It may be more helpful to throw out a scenario like:Purchase Price:  500K20% down740 credit score6 months reserves 1:1 ratioQuote with and without a prepayment penalty and how long the prepayment penalty is. 

My target purchase price is under $1.7M and prefer cosmetic fix to start with.

Looking forward to learning from all of you and perhaps sharing some of my own experiences along the way.

I think you may want to look into areas out of state, where rents are strong and prices are lower. 

I have no experience personally with section 8, but I've spoken with several other landlords who rent properties in rough areas where the section 8 rental represents a significant premium to what a free market price would be.