I've been trying  to wholesale in Anchorage but its been difficult finding good deals.

I’m an hour from the KC area do that is always an option, but very difficult because of the distance and my 55+ hour work week.

Seems like you haven't factored in maintenance, cap ex, lawn care, property management, or vacancy. 50% Rule says $1,800 in expenses additional to your mortgage payment.

It’s difficult to address all situations, but we had an attorney draft the document to make sure we addressed as many concerns as possible.  

Difficult questions in this market as the high-end properties have only been around a short while and there are MANY coming online in the next year.

Based on cash flow and 10 cap, I got to around $200k ARV.

It is pretty difficult to find a deal that works given current conditions and how conservative I am, but after two years of searching I was able to do it. 

That part is not the problem, the problem is, once we move to Washington, we won’t have jobs immediately making it very difficult to obtain an FHA loan for our first house (triplex).

And there-in is the challenge as a seller: the market for this kind of property is small, and most buyers either can't wrap their head around the investment or don't want the hassle of students.Summary:- Awesome cash flow- Valuation based on cash flow- Management hassle- Difficult to unload

How much should I figure in for cap x and repairs is a big one for me.