I'm based out of state and would be relying on a property management company to handled the day-to-day. 

Have to get a better grip on the tax laws and totally understand the PR home flipping system.

My guess would be it's a error and they forgot to update it to the new total (at 100 more).

It is not like we went in totally blind, we had a good idea of what the cost would be based on previous projects we had done with him.

But it's a totally different game with this one. 

@Joseph Rath keep saving and once you are ready to pull the trigger then you can absolutely house hack a duplex with FHA financing and sellers assistance to help with closing costs and get into a duplex under 200k for $12,000 or less total investment

I totally agree, it is a better option to let the experienced professionals handle that.

Many inexperienced investors do not have their real estate license and are relying upon you to gauge the ARV.

I'm looking at $100k profits, and in my mind, that makes it totally worth it to avoid paying those taxes.

I wouldn't just rely on Loop Net and/or other public resources.