It costs more up front because the home will have to be appraised again later but this is the most accurate way to know the ARV in my opinion.

I don't want to waste their time because I know that typically there is a small percentage chance on the deal actually working out, but I don't know how else to accurately estimate renovation costs.I have looked at the rehab estimator tool on BP and try to ballpark it but ultimately I know that I will not know everything, and wouldn't want to botch my first deal off of not accurately planning for reno costs.Would appreciate any input - thanks!

Typically the main things you can lose profit on has to do with underestimating the cost of renovation; unforeseen things that arise; holding costs; or not accurately understand the market. 

I have heard about areas like Beacon Hill, Strawberry Hill, and etc, but I don't know if that is accurate. 

There are a few weak points in this plan for a “rinse and repeat” strategy: No valid reason to buy except to gamble on appreciationNegative cash flowHerd mentality: buy high, sell low.

Are you sure you want to cash out your only source of retirement just to gamble it up on your first residential investment.If it were me I would wait, get my credit score up, save more cash, and not touch my IRA. 

I’m in Lafayette and can help you with comps and determining accurate ARV

I understand this is a gamble. 

Most of the time the reason is BS but every once in a while you get the honest "being kicked out"I require 5 years of address history on my application because previous landlords tend to be a more accurate reference rather than current landlords. 

This is my first time deciding to build a house and attempting to sell it from another state and I wanted to check to see if someone familiar with the Bella Vista, AR area could confirm the sell prices given to me are accurate.