Purchase price: $252,000 Cash invested: $63,600First buy and hold.

If you are looking to just calculate profitability, set how much profit you want to make then:ARV - Purchase Costs - Holding Costs - Selling Costs - Desired Profit - Rehab Budget (including contingency) = Maximum Allowable OfferIF you cannot calculate those numbers, a spreadsheet isn't going to help you. 

It might not be the best method but it works for what I own because I only purchase performing notes. 

Quote from @Enrique Toledo: I came across a really good seller financing deal and I would like to purchase it as my first deal but I don’t have enough money for the down payment.can I use a lender of some sort to give me money for the down payment?

The latest red flag is his belief he purchased a "fully renovated" property in Philadelphia for $115K.

@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If so they may have a real estate license or they may work with an agent that relies on repeat business rather than a one-off purchase. 

If you’re just graduating and don’t really even have a job lined up then I think it would be foolish to rush into the purchase of a property right now.

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip. 

When the home was purchased, it was conventional loan and the basement had tenants.