There has to be room for closing costs, carrying costs, repairs, profit for the flipper, and your wholesale fee.

Homes in both subdivisions were built by different but similar quality builders.

The property is a 5 unit building with the following information: Rental income is $4,000 per month or $48,000 per year totalTaxes are $375 per month or $4,500 per year (this is higher than current but factoring in that they will increase)Estimated insurance is $200 per month or $2,400 per yearExpenses: Vacancy 8%Management 10%Other expenses Landlord pays water at $400 per month or $4,800 per year Realize this could be a cost savings in the future, but want to analyze as isGeneral maintenance (including minor repairs on property) including grass and pest control estimate at $300 per month or $3,600 per yearCapital reserves for Cap ex (appliances, windows (52 windows on building), roof, siding, etc. which I based on building a capitalization table based on useful life of items and number of units) at $460 per month or $5,520 per yearLoan: All in after down payment the loan would be for $300,000Assuming 7% interest rateAmortized over 20 yearsThus comes out to $2,325 per month or $27,900 per yearSummary Income Per Year:$48,000Property Exp.

Buffalo is an awesome market to get started in, but it definitely can get tricky to find quality help regarding contractors. 

I have about $60,000 saved up for repairs. 

In addition, the cost to repair any given damage done to a property is relatively uniform over different markets (especially if you do the repairs yourself). 

Find comps that: have sold within the previous 3-6 months;are within the neighborhood geographic boundaries;have similar features;are approximately the same square footageRemember that the condition of the comps needs to reflect what the potential subject property will look like after rehab.I wrote a biggerpockets blog post on how to find comps and calculate ARV which may be helpful:https://www.biggerpockets.com/blogs/8814/68395-how-to-find-real-estate-comps-and-calculate-after-repair-valueReach out if I can help with anything.

- remove existing tile - remove drywall in surround and window area to the ceiling - replace drywall with hardibacker redgard hardibacker large porcelain tiles (16x16, 12x24) with smallest grout spacing possible- highest quality caulk that is mildew-resistant - tile floors, 4" base/behind/beside toilet, in addition to tub surround all the way to ceiling - angle tiles away from block window - re-install shower curtain rod  - replace fan/light with higher-performance model with humidity sensor - inspect fan ventiliation to confirm vent going through ceiling - inspect bath, sink, toilet plumbing and waste drainpipes - add quarter turn water shut-off valve - replace bath fixtures to single stem handle - replace bath drain with grid drain

The $60-70k rehab estimate seems high as I'm shopping for an Inglewood condo and some of the worst 2bed 2baths in the city wouldn't require over $20k in repairs/upgrades. 

If the roof needs repairs they would handle that process and maintain the solar equipment.