If the same property cash flows $800 per month ($9,600 per year) without a mortgage then it returned 9.6% compared to the $100k investment. 

Compare that rate to Cary, NC with a 17.3% growth rate over the same timeframe. 

I always analyze what my competition will be like at the end of the flip (active comps or active projects) and then look at what the comparable are (closed sales). 

Their appraisal appraised $90,000 less compared to mine. 

You should definitely shop PMs and understand what comparable units are renting for, their condition, amenities etc.

I'm not saying you shouldn't look at this area, but compare it to at least one other market.

I used comparables through similar sites to what you mentioned and made a list of notes next to them like "similar condition to ours" "small bedrooms" "has a pool" or whatever else was like/unlike our units and then picked in the higher percentile of rents because I knew we would provide more benefits than other units.

This makes more sense for me because it is passive compared to how active my multifamily property was, even with a property manager.

If you're serious about investing think about the time sitting on the sideline compared to the opportunities and ROI for properties you could have purchased.

After the unit is empty we do a video walk through with the tenant and can compare it to the video we did on day one.