Coming Into The HOME Stretch!

[Dominic Lucarelli]

So after analyzing deal after deal, podcast after podcast, I've struck a verbal agreement with a family friend to purchase a home he's been renting to his sister-in-law. Please PLEASE check my numbers to see if I'm a fool or a hero:

Agreed price: $40,000 + closing costs

Zillow Estimated Value: $67,000

3 bed, 1 bath, 1399 sq ft, built in 1950

Port Vue, Pa

Taxes: $1683

Estimated Insurance: $600

Zillow Estimated rent: $850

Projected monthly payment (PITI): $346

Projected profit: $79

Thoughts?