I havent received copy of appraisal yet but the math doesn't make sense.

,just do your homework most wholesaler under eatimate repairs and over estimate arv.  

I wouldn't say it's ultra conversative, especially not in the long run.Someone doing the math might see a property that can generate $2k per month rental income, and say that the expenses will be much less than $1k.

They do tax assessments for many towns in MA. The

I actually teach high school math (personal finance, algebra 2 and calculus) and am in the whole numbers thing too.  

Though I can respectfully disagree with others assessments on how they grade a property, there is no true set of criteria for doing so and this is why an investor should really do their own homework on areas and markets before they buy. 

Im going to second what @Aaron Montague said, the quick math suggests this deal is worth looking into.

We don't often take on equity partners, but when we do, this is math we discuss: We target deals where the absolute return is at least 15%.

I don't buy into a lot that Dave says because his financial math isn't so good, but he nails it when it comes to the psychology behind getting debt free.- The Wall Street Journal.

The government is using creative math (LYING) about unemployment, which is continuing to worsen.