@Steve RozenbergInterviewing the property management employees and the property owners will give you accurate feedback. 

If the numbers are accurate and the title is good I'd get the house under contract and close ASAP. 

.:     -     46PM    :      -    55============Cash Flow:   216/mo @ 30yr or 171 @15 yrNOI : 216*12 = 2592/yrGiven the initial investment of 6625 (down payment) +2.5k (closing) = 9,125, this equates to a 28.41% ROI2592/26k = 9.97% cap rate.Is this accurate?

It is still an extremely good bet odds-wise, but I don't gamble, and $1M would make a very big impact in my life.  

Are my assumptions accurate?

What could be as accurate and as easy except for direct sales comps?

There are so many variable to answer that question. as Colton S. said, best way to get an accurate answer would be to talk to a CPA about YOUR specific situation.Some things will vary by state, the entity that you used to purchase the property, if you could be considered a RE professional etc...Here are some things that COULD POTENTIALLY be deducted (again, talk to a CPA):Car millageRenovations (again, not all things)professional fees (i.e. for realtors associations)permitshome officeinspection feesThe challenge is that you can claim anything you want but at the end of the day you will have to face that IRS auditor and explain why a $3000 watch is a valid RE expense and when he doesn't buy it face the consequences...This is why it's better to consult a CPA ahead of time to get your tax planning optimized.

The aspect of wholesaling that I have recognized as being the most important (correct me if I am wrong) in order to become successful is being able to accurately peg deals. 

In short, we need more info before we can answer your question accurately.

@Terrance Merck  Ask the developer why he's not developing it, that's usually the best way to get an accurate answer.