In this case, it would seem the 2nd should bid up to maybe 600 with the hopes of getting half its 250 back and leave room for error.  

Hello BP,This may be a rookie question however I am estimating after repair values based on pictures of several listings.I was wondering if I place an offer prior to physically viewing the property will I be able to pull out of the deal if After physically viewing the property, I realize that the rehab cost is higher than I had originally estimated.I would like to be able to make offers prior to viewing properties but not be stuck if my estimates are off.

It is not a technical termination as you are amending to correct the formation error.

People forget this and everyone wants to go from rookie to CEO is like 2 years.

This is all new to me, sorry if these are rookie questions but a bit confused on the process leading up to buying my first property and do not want to make any rookie mistakes. 

Are you getting a specific error, or is it just not updating after you're done?

I do believe its trial and error, you have to try several zip codes and see what happens and be prepared to move zip codes and let them know that they are producing leads or conversations.  

Most everything 5+ units in my area is a private sale (or the buyer in a rookie and paying arv for a building requiring significant inputs).

That was an error 

Additionally, any errors or omissions please point them out to me so that I can address them.