Structuring a delinquent tax deal

[Justin Seng]

Is it possible to structure a fix and flip deal like this....

Off market house. Owner owes $10,000 in back taxes.

My offer...

Pay back taxes off now and offer home owner 40% of the fix and flip sale price.

Numbers...

Sale Price 155K

40% of 155K = 62K (To home owner)

155k

- 62k (To home owner)

- 10K (Delinquent Taxes)

- 9300 (6% realtor fees)

- 3500 (closing costs)

- 800 (Lawyer fees to write up contract) guessing this price right now.

- 1400 (Holding costs)

= $68,000

$68,000 - rehab costs = Profit.

Am I missing anything?

Thanks!