First Flip looking for advice

[Shay Green]

So this is my first flip and i'm trying to get the numbers right, below is how I have figured my costs. Just wanted to know bigger pockets advice. I will be doing the majority of the work besides plumbing, electrical, and roofing. What do suggest for closing costs and other such things that I may have over looked?

Purchase price: $179,900
Description: 3 bed 2 bath -- 2,356 sqft -- 5,000 sqft lot -- year 1923
Retail value of property after fix-up = $250,000
(Tax assessed value = $221,713)

1) Complete selling cost (8%) = $20,000
[3% list fee + 3% selling fee + 1.78% excise tax + closing]

2) Remaining after selling cost = $230,000
[Value – 1 ]

3) Purchase price = $179,900

4) Finder fee = $5,000

5) Fix-up costs = $20,000

6) Out of pocket expense = $204,900
[3 + 4 + 5 ]

7) Holding costs = $3,500
[6% annually or .05% / mo. = 1.5% holding for 6-8 weeks ]
8) Total cost = $208,400
[6 + 7 ]
9) Net profit = $27,208
[2 – 8 ]
10) Rate of return = 13%
[9 / 8 ]

Comps: Sold properties
1) – 4bed 2 bath – 2,901 sqft – 7,405 sqft lot.
$370,000 June 15, 2010
2) – 3bed 1 bath – 2316 sqft – 5,000 sqft lot --
$228,000 June 25, 2010
3) – 3bed 2 bath – 2676 sqft – 4791 sqft lot --
$194,000 May 14, 2010

For Sale properties
1) -- 4bed 2 bath – 2780 sqft – 9738 sqft lot --
$425,000
2) -- 4bed 2 bath – 2432 sqft – 4791 sqft lot --
$339,000
3) -- 5 bed 3 bath – 3416 sqft – 10000 sqft lot --
$444,000

Thanks for any advice you can offer!