Subtract 43,800 from the 54,000 and your cash flow is just 10,800/yr. the debt service coverage ratio is 1.23.

Good evening BP, I have a question, If I can get a seller to take 60% or less of the ARV and also subtract repairs, is it possible as an incentive to get the seller to accept the offer that I tell the seller after the home sells I will split the profits with him in exchange for him taking a low price?

You may have to subtract or add on to the rent. 

They then take 75% of that and subtract the new PITI payment. 

The land contract note amount will be the balance owed after the above credits have been subtracted."

I maybe wrong with my evaluation since I'm pretty new to this but if you're valuing the deal for a buy and hold, divide your monthly rents by 2% and this should be a good starting point for purchase price (subtract any repair fees and wholesale fees).

Would you add/subtract anything from this list?

When looking at comps how do you know how much to add or subtract for certain attributes, for example if the subject property has a sloped driveway or unleveled yard but the comp properties do not, or corner lot vs non corner lot, subject across from multi-family comps not and so on.  

Or am I supposed to subtract $105,000 - $75000 = $30,000 which is what the bank will loan me.

After taxes, repairs, potential vacancies, etc, subtract that from your rent and you'll have your monthly cash flow.Multiply your cash flow by 12 and divide it by your purchase price to get your rate of return- is it any good?