@Scott Holoubek75% sounds accurate.

Be open and honest with your lender so they can give you the most accurate prediction for costs.

It is also important to have had a cost seg report so you know the specific value of the components your are replacing, so that you can do accurate disposition and abandonment of assets (which is an expense item).

@Brian Eastman summed up your answers to your questions very accurately.

I like what has been said, that is is often more accurate to view property managers as tenant managers.

The property taxes ($487 annually) were not accurate as you thought.

Please, please, please sit down with an independent financial advisor before you do this. 6.5% on your money is not accurate. 

What do I need to do to get more accurate numbers there?

But if you reviewed the HUD and signed it, that's basically letting everyone involved know that you found it to be accurate. 

I am in the process of ordering a rehab report for more accurate rehab figures.Any insight you can shed on this will be great.