Also, I have had wholesalers provide me with horrible rehab estimates where they overlook some important issues (like an $8k electric wiring update).

In Georgia, we send off "estimated" charges from the move out.  

And, even though the price point for entry is comparatively low, it requires you to be an expert at deal analysis, rehab estimation, marketing, negotiation, creative strategies, and multiple exit strategies.  

For instance- this just came on http://www.trulia.com/property/3223616291-1701-Jac...623k- assuming I am renting for 4k which might be conservative and 5% vacancy, estimates on expenses still puts my rates between 5-7%. 

By the end of March I anticipate my savings to reach 7k (a conservative estimate).

The program will cover the following topics on how to evaluate a prospective property from a financial perspective:- gathering relevant data- estimating costs- calculating cash flow- important financial indicators ( such as CAP rate, ROI ) and how to calculate them- what will a bank look for in order to issue a loanMake a commitment to join us and learn from Brian at our February 8th main meeting…and bring your team.

Which would leave a large gap with rehab estimates of approximately  $25,000 which was on the high side being the floors were all to the subflooring.  

It's one thing to know what kind of return you want and how to run the numbers, but another to understand if your estimate of rent is correct, and what the market will bear to force appreciate a unit.

I have a leads list that gives me the following:Estimated valueEstimated total loan balanceAssessed value I'm thinking I can just subtract est. loan balance from the estimated value to get my estimated equity...

Although your repair estimate is at its high end I don't think that's your issue.