@Kevin Bain If you are looking to wholesale this deal remember you have to then subtract your wholesale fee from the breakdown that @Recia Davis provided.Not a deal obviously, but that is why BP is great.

If you subtract $7,500 for rehab then you can afford to pay $41,430.

So that's $387.50.Subtract the mortgage and that's $146.5 positive cashflow per unit.

Subtract $XX for repair costs, 1 % for purchase costs, 3% for holding costs, 3% for sales costs (without realtor), $XX for minimum acceptable profit, and 3-5% for a hedge factor.

If you subtract out $20K repairs you get $15K.

Will he subtract that amount from fees once closed?

Add this, subtract that, re-work this, contingency this, etc... 

We closed three days later.So... final numbers after subtracting the cost of the rehab SHOULD have been about $30K profit according to our contract price.

Take the total potential rent and subtract these expenses to arrive at your net operating income (NOI).

Then subtract a little, cause agents are always a little too optimistic :)Also - a warning - I would be cautious about starting your first flip with something that's not-normal.