My personal methods involve staking out the place through several nights to get a good head count and understand the tenants/guests routines.

Let's assume that your net sale price after deducting routine closing costs is $1.85 million.

As Ted said, it could have either/both been a bidding war and/or the seller paying closing costs and adding it into the loan.The other options are:- The seller underpriced the market to get offers above asking price;- The buyer was buying through NACA, a lending organization that routinely allows buyers to buy down interest rates with seller contributions;- The listing price was dropped before the accepted offer was received, so that the accepted offer was made when the listing price was actually higher.

The house is in super fancy neighborhood and it just appreciated over the years.

Build your systems and team and it will be easier, maybe even routine, in the future. 

you don't really need all these fancy spreadsheets and programs to figure out what price to buy at.

@David McCracken As a home inspector I test for both radon and mold routinely.

I have never sold real estate and do not have my license (yet).I am the executive director of a 100 home affordable housing community (fancy words for - property manager).  

Keep the same routine.

Expenses, averaged $15,000 per year, ($435,000 total) including routine maintenance and improvements.