The Offer - Understanding the Numbers

[Jared McCool]

Hey all, 

Looking for some help. This is my first property, and i am having a hard time understanding the numbers.  

Reo for 218k

I want to offer 170k, this is a 203k with estimated 50k in repairs. i am asking seller (bank) to cover closing cost. Arv is 240k. After repairs i would like 10k in equity, that is why i am offering 70% of value.  I know this property will cash flow, but dont want to pay more then the value of the market value.  i will be holding and renting this property.  Can some one please explain the breakdown below? Also, i am not sure if this is legal or ethical to post, it does not contain personal information, but if this shouldnt be posted please advise so i can delete.