Vacancy: 4%Repairs and Capex are low because I plan to put $120k into it

It is relatively low value (50K), although it is in good condition after some recent repairs. 

If you can get in a see it and come up with a good repair estimate, you will have a much better idea of whether or not you can get it cheap enough. 

I tried lowering the purchase price by $23,000 (light repairs @ $10 per sf).

The info provided is from a wholesaler Please note he states its a teardown and the asking price is more than the comps he provided which are larger properties than the subject property.SFR2 bed / 1 bath 792 sf Lot: 8,599 sfPickup Price: $475KEst Rehab: $775KAfter Repair Value: $1.8M ($450K per unit)Tear down existing home to build 4 brand new townhouses with 3 bed 3 bath and approx 1,500 sf each unitComparables: 12307 Cheshire St # A Norwalk, CA - 3 bed 3 bath 1,322 sf Sold Price: $435,000 14786 Pioneer Blvd Norwalk, CA - 3 bed 3 bath 1,483 sf Sold Price: $422,000 12309 Cheshire St # C Norwalk, CA - 3 bed 3 bath 1,142 sf Sold Price: $417,000

The beauty of owner carry is I do not have to do repairs on the property. 

I did some repairs, listed it through craigslist and then finally hired a realtor to help with the property. 

Hi Jathin,I run a mortgage brokerage out of Los Angeles and would be willing to hop on the phone at some point and talk specifics.

It was brought to the sellers attention who advised he would repair the garage to stop the flooding (he was a contractor).

Based off a loan amount of $78,400 at 6% interest and Annual Property Tax of $1,280 and Insurance $750, your payment would be approximately $639.21 Factor in 20% percent for vacancy, repairs, and property manager fees and your left with $752 for a profit of $112.79.