First, that isn't always accurate...that just because you live there you know that area. 

This is in a town of 5,000 where not many properties change hands of this size so the comps are not accurate.  

I've been as careful and accurate as possible so let the chips fall where they may, moving forward or learning from any mistakes.

Everyone hs said a lot of good stuff already but from an investor perspective my realtor is great because he also does flips and rehabs so when we look at a place he can accurately estimate the construction costs ans ARV.

Based on my pro forma and estimates, this is a pretty accurate rate of return that I expect the property to deliver. 

If your expenses are accurate (double & triple check) this means the property should cash flow such that you can hold onto it for the longterm (this is good!).

Looking at the second page, you get a more accurate description of the cash flow. $600 post refinance, so $150 per door. 

I was doing some research and I've come across something that states if you're an out of state investor you have to hire a property management company.is this accurate?

If there was a contest to calculate the ARV on a property most accurately (selling for retail) out of a group of investors and the prize was $1 million cash... how would ensure you would win the contest? 

To the best of my knowledge the budget is fairly accurate, but I definitely was learning to get my feet wet with real estate at the time, and now I keep much better records!