Church flip confusion?

[Eric Davis]

I stalk these forums a good amount and would first like to thank everyone who continues to give great advice! I bought my first home a couple of years ago and using the knowledge on here put it on the market recently and had it under contract in under a week! So now I'm debating whether to flip a property before we leave the area in about 9 months. The property that I am looking at is completely out of my element since it isn't a personal residence.

It is smaller church that has been beaten up for years. So naturally I was interested in checking it out. It can be converted into a duplex but cannot have the footprint changed. The zoning lady that I talked to said that just putting a wall to section it off would be fine. (any red flags on this?) So anyways, here is what I'm looking at.

Asking $60,000 but I know the owner bought it for $35,000 a year and a half ago and did no work to it at all. Here is how I see the deal, please let me know if this is correct thinking for a flip.

$100,000 ARV
-$ 30,000 repairs
-$ 1,200 closing costs (purchase)
-$ 3,000 closing costs (sale)
-$ 1,200 holding costs
-$ 15,000 profit
-$ 5,000 realtor/concessions
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$44,600 Offering Price

The reason I'm picking $100,000 ARV is simply because duplexes in the same area typically are going for around $120,000 and look dated and beat up. So I just want to be conservative on the sale price so that I can sell it quick. Is there a formula to figure the asking price if you know the rental rates? Would it also hurt that price if I lived in one of the units and only rented the other one out?