Analyzing a potential Turnkey wholesale

[Jose Gandulla]

I analyzed this one property just to see what's out there. Any Feedback would be greatly appreciated.  Analysis: Townhome

3 bed 2.5 baths 1800sf rent ready(light cosmetic repair is optional) rent is 2000 a-month purchase price is 255k expenses come up to about 800 per month(property taxes, insurance, vacancy rate 10%, property management 10% and repairs 5%) leaving about $1200 cash flow. Cap rate is about 5.5%. In order for this to work it would have to be a cash purchase. If it were financed the cap rate would be negative resulting in a negative cash flow. Comps were pulled of zillow only sky view pictures were available.

Comp #1
3 bed 2 bath
1,770 sf
Sold 7/21/15
285k
Condition: Unknown
Comp#2
4 bed 2 bath
1173 sf
Sold 5/28/15
280k
Condition: unknown