MPP for a rehab

[Caleb Mclamb]

Hello BP, 

Currently I am reading J Scott's the book on flipping houses and I am learning allot! I am working with a local realtor and am formulating my criteria of what I am looking for with her. 

My question is this, if i plan to flip using all cash and want to be all in for no more than 100k, what is my max purchase price or MPP? 

I calculate: MPP= ARV-FC-profit-rehab-safety net

ie 66k=120k-12k-20k-20k-2k

66k=MPP

120k=resale value

12k= fixed cost when using no mortgage

20k= my desired profit

20k= a very very rough estimate of rehab on a "level 2" heavy cosmetic rehab

2k= just because I am going to make mistakes

Remember, this is not about a particular deal it is about what $range$ of deals I should be intersted in if i want to be ALL IN for no more than 100k

All in all my conclusion boiled down to purchasing for around 55% of ARV and my MPP being 66k and under.

any thoughts and notes are much appreciated!