Townhouse Flip

[Ben C.]

What are your thoughts on this deal...

Would you do it? This is assuming 1 year to date from closing I will close on the sale. It is a gut rehab. 

Purchase:
Sale Price	$550,000
Closing Costs:	$9,625
Holding:
Renovations	$175,000.00
Mortgage/Taxes	$55,200.00
Utilities	$2,500
Flood Insurance	$2000.00
Selling Costs:
Selling Price	$899,999
Closing Costs	$57,645
Selling Price	$899,999
Costs:	$851,970
% return on money	5.64%
% of cash invested	22.32%
Profit	$48,029