Low supply, strong demand, and rising interest rates are having everyone buy up all the existing inventory.

home needs paint, here is a list that I got quoted $7,500.00 for Ive bought wall paint alreadyHe is supplying everything else, tape, brushes, trim paint ETC.Paint entire 3150 Sq ft home Paint ceilings Repair texture and paint water damage in 3 areas of the ceiling Paint entire 2 car garage Paint all oak cabinets White, sand, prime and paint correctly off hinges probably 25 doors, and 15 drawers Paint all 12 doors paint stair case wood polespaint baseboards the foyer has very high vaulted ceilings. it is a decently large home as well. 

That is, not fully factoring all expenses.Here is a good article on the subject: https://www.biggerpockets.com/renewsblog/2014/12/02/rental-property-expenses/I'm not sure of all the variables, but without drastically increasing your rent and/or lowering your payments, it doesn't look like this property is going to be a great asset for you.

Supply flooding in the market will for sure drop rent, though will wait and see what the effect is once shelter in place is eased.

and something for @Theresa Harris  The major things to think about with work supplied life insurance are Are you going to stay at your job until you die? 

He hasn't really given me any other comps so I have to do my due diligence and analyze them, but since it's so variable, like you said.. it may not be comparable.

Having trouble determining what an appropriate ARV would be- comps are all over the board, I see other 3/2 homes of similar size ranging from $270-500 but there so many variables- smaller lot, more square footage. 

To get clarity on what mentor you might be looking for you need clarity on what kind of asset class you might be interested in long term; To get clarity there, you need an understanding of the pros and cons of various asset classes; To understand that you need to understand the variables that go into analyzing properties, and so on. 

That's a lot more supply on the market.

Although many variables are valid the statistics support that the market is not quite heading for a 2008 type collapse or adjustment.