Not until you educate yourself on the market and the correct way to value a property.You would probably be best using sales comps and/or GRM's.

Subtracting the $4k in closing for the first purchase, the $2k in closing for the sell a year from now, and the $8.4k in selling fees from a conservative sale value of $140k leaves you with $125,600 minus your purchase price of $118k and you pocket about $8k.

hey Tony be glad to help you if I can we currently have 5 multiple family houses for sale in buffalo

They will simply consider that in their Net proceeds from the sale....it lowers the net of your offer.

One sale does not make a market but thanks Grandma for the deal anyway.

I think there is the requirement that the sales are arms length transactions which the last leg would not be. 

Your financials are too tight to not have predictable cash flows on this property.You also could lose the home sale exclusion if you convert your former residence to a rental.  

.#3 Hidden costs:   Even if you sell your property at a higher sale price than when you bought it, agent fees, repair fees, capex fees eat away at your profits.  

Hence this post.I could use some advice on where to find good data on the present market conditions, particularly recent sale information on single family homes in my area with a description of the product. 

In the meantime I am looking for investment SFR's in the 85-125 range in which to use the remainder of my capital from my first sale as a down payment.