Would this be a good first deal for a rental? We live in a rural area with currently no homes on the market and very few rentals available.
Purchase price- $167,000
20% down - $34,000
Rent charged - $1,300 
Mortga...

Give that a shot

Seems the property was in a pretty decent neighborhood class to reap that equity. 

I am looking for recommendations from people in the area if there is a great property manager and suggestions from everyone on what to do give it a shot or stick with the current company? 

Taking the average of 5 comps is one way to have a decent ARV (not too aggressive and not too conservative), however, your specific market and your level of rehab will dictate if you get the top price or the "average/median" price of the comps.

I think it's a long shot.

I'm a huge advocate of getting a decent first deal fast, rather than sitting around waiting for a "perfect" financial deal with massive juicy returns.

Putting 20% down on say a 60.000.00 property would get you a decent house with plenty of money in reserves.

But as I tell everyone I work with I am more than happy to give it a shot and will be just as happy as you to be wrong when it goes for more.

From what I can see being new and not having any on paper experience with flipping or brrring decent credit will go a long way.