SS - Deal or no deal?

[Lisa Wheeler]

I have a bank approved - assignable contract on a short sale.(Yes the bank allowed my contract to be assigned from the initial bid ....."ask and ye shall receive ) My bid at 45% of ARV ( minor repairs of fresh paint and clean carpets ) was approved... The property also has a MTM that pays $700/month and would like to stay on ...
Here are the numbers:
Low ARV 90K
Repairs 5K
Pur Price 45K

Taxes for '09 $950 Rent $700/month
Insurance 1200
Well/Septic

Question: Is this a good deal?