How accurate is this info?

Data outside a mile or so becomes less and less accurate, depending on the location. 

Those numbers sound accurate. 

@Charles CarilloPublic records state that the owners live in the house, which isn’t accurate (homes are boarded up, some have city notices on them).

Of course of all of this relies on my assumptions being accurate...something that is impossible to project!  

They aren't high, they're accurate.

Seems much more interesting given the type/quantity of responses here rather than whether or not your stats are accurate.

Which is the most accurate in determining how well a target market is doing economically as far as number of jobs and job growth is concerned?

On the other hand, an appraised value (especially if it’s recent) should be much more accurate and, if that’s what you’re referring to, I’d question why you’d believe the owner when he tells you not to go by that and that it’s actually worth $100k more. 

If that's the case, it's not really accurate to say this is only breakeven - you'd be living for free at that point - whatever you're currently paying in rent would be your positive cash flow (assuming your numbers are correct).That's great that the current owner has good insurance, but I wouldn't be quite so quick to assume a cracked slab will be covered.