Could it be this simple? Analyze THIS!

[Nalo Coban]

so im looking at a 4plex, brick bldg. one bedrooms sub meter for utilities. The bldg was built in 1940. my biggest concern is lead base paint and asbestos interference during the rehab process. because of these factors, I will offer about $50K below asking price...see my scenario below and let me know your thoughts.

asking price 83000

Purchase costs 65000

cost of home 30000

rehab costs 35000 includes LBP & asbestos abatement

down payment 6500 10% of PP

loan amount 58500 12.9 interest only for 5yrs

inspection 500

appraisal 500

lender fees 2000

closing costs 2000

TOTAL 70000

Holding costs monthly cost for 3 months only

mrtge pymts 1887 $629/mo. interest only loan

property taxes 393 $1572/yr

utilities - water 600 $200/mo for 3 months

utilities - gas 600 $200/mo for 3 months

utilities - elec 600 $200/mo for 3 months

insurance 600 $200/mo for 3 months

TOTAL 4680

Selling costs

sales price 120000

commissions 7200 6% of SP

closing costs 3600 3% of SP

home warranty 500?

termite letter 100?

mls fees 230

TOTAL 11630

subtotal costs 86310

sales price 120000

NET 33690

Am I missing anything? would YOU do this deal? if so would you Lend me the money :-)