Rehab deal

[George Ramsay]

Figure ill throw this out there and see what everyone thinks, and if im missing anything
This is an owner financing deal with 500$ monthly payments. I was going to fund the rehab out of pocket, since the banks are just stupid and worthless.

ARV=170,000

INITIAL OFFER TO ESTATE 10,000
-Includes sales commission, closing costs and 2,000 for each heir
REHAB= 60,000

So total cost to me to rehab and acquire property is 70,000

Once property sells for 170,000

30,000 to the estate (10K per heir)
40,000 to pay off remaining mortgage
100,000 to me to pay off my 70,000 investment +
30,000 Profit minus listing commission

I feel like im missing someting since a lot of investors use huge worksheets and mathematical formulas to figure stuff like this out. Then i talk to other older investors who just keep it real simple like this