It is up to you to see which comps are most relevant to you, but likely if you underwrite $250k in income as an across the street comp you will be under water by $50k and that is not the software's fault.

Taxes 5500/yr, insurance 5500/yr, water 2500/yr.

Some utilities stay with the house (eg water if the tenant doesn't pay, you get stuck with the bill), others go with the tenant (eg electricity, phone). 

I’d ask about the cost of getting the well water lots converted to city water.

I just pulled out one of my policies, and it does cover mold and water damage.

That's not a bad thing (everyone who just buys a second home is technically 'under water' from an investment lens) but you have to decide which way you'll go into it before buying. 

Most places its too expensive to have separate water and sewer lines. 

@Don Le first off, are you sure tenants pay their own water?

, things to add into calculations (i.e. duplex you cover sewer/water vs. single-family is on tenant, any other considerations?)

The Midwest is going to strategically matter more in the future and population will be growing due to fresh water and cooler climate, also fewer storms (lower insurance premiums).