So all the indicators are telling me this is a good deal, but as i said it is my first deal so im a little nervous, i am also thinking about flipping the property as the comps seems to support it. 

Fear is a good indicator to keep going.

I've seen one or two Indiana BK Courts' opinions on the issue, and the opinions basically indicated they will not issue rulings as to the reasonableness of the amounts without evidence gather, witnesses, hearing, etc. 

@Rick AlbertI saw some indicators of this in a few different info sources as well as anecdotally through local channels.

You didn't indicate cap rate or NOI.

If you have been to south Florida (Palm Beach - Ft Lauderdale) this will be a good indicator of what you can expect along the treasure coast in the coming decades.

More likely they would find a few other less-than-ideal comparable for the analysis.They are looking at the total package of the house and when appraising one property the appraiser will adjust the indicated value using the subject properties at market-verfiied rates. 

But if she's much older than that, to me that'd be a red flag and an indication that the daughter has lived a life that has required her mom's involvement and help getting bailed out of situations.  

I see many of the same indicators that were in place back in 2008-2009 with a few exceptions.

Your initial cash flow is likely modest because you are willing to do significant work yourselves (otherwise it would likely be slightly negative), but this cash flow is likely to increase at a fast rate (historically has been the case and indicators are unchanged).