Rental Property... Deal or No Deal?

[Jason Jones]

APPRAISED VALUE: $73,000
Purchase Price $53,500
Closing Costs $600
Assumed Loan $53,000
Refi % of ARV 80% $58,400
Loan Costs $3,000
Cash Out $2,400
Net Down Payment -$1,300

Instant Equity: $14,600

Avg. Rental $700
Prin & Int. @ 7.3% $398

PM Fee 10% $70
Tax/ Ins. $100
Net cash flow $132