It appears you have combined them both at 10%.Also, what assumptions are you using for the mortgage?  

Thank you Christopher,I guess you did not read the fact pattern correctly, or made assumptions outside of the facts.  

The assumption is that the buyer will be managing it himself/herself.

@Duane HundleyUnder the assumption you think your job is stable, many 401K loans are due upon leaving the company, then you have to look at the difference to your 401K over time by taking the loan.

I'd guess there are times when an S-Corp structure is more advantageous as I pointed out above if I was correct in my scenarios/assumptions and as you pointed out an Scorp is not the best solution for your example scenario.Good info on point #1 - something I was not aware of.

Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender.To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition toLender's consent to the loan assumption.

Maybe I'm making too many assumptions, but you said you "even wrote some offers at or above list price".

In your case, it appears that there was not permit pulled, so the assumption would be that it hasn't been done and may need to be replaced sometime in the future.

If you get ANY of your assumptions wrong for a first flip, you could end up with ZERO equity!

Maybe think about it this way: A% down, B% Owner Financing, C% Assumption/wrap, D% New Loan, X% equity.