What's the most I should pay for this property?

[Account Closed]

Looking at buying a property in Jackson, MS as a cosmetic rehab and quick flip. I have a very detailed quote for the work that needs to be done in the amount of $15K - 3 weeks time max. Tax records for 2009 show true value of $168K. End buyer already in place once rehab is complete. How much should I expect to pay for closing costs on each end - purchase and then subsequent sale? Auction site wants 10% of final bid price. Applied for hard money. Any other costs I may have missed - please advise.
Link to the ad:
[http://www.biggerpockets.com/properties/4475-jackson-ms-589-hanging-moss]

[Will Barnard]

It is called contingency expense and I use 15% of rehab total rehab costs, add that in and come up with total rehab costs.
10% is bare minimum for contingencies.

If the ARV is $155k, and the expenses (with contingencies are $18k, then your max offer is %155k X 70% ($108.5k) minus $18k which equals $90,500
Expect to make around 15% of ARV if you know what you are doing, 10% should be minimum.
I don't do money invested flips unless I can make at least $20k