Number for Most Recent Deal

I thought I'd post the numbers for the most recent deal. I made a mistake in my earlier calculation that actually boosted the bottom line higher than it was. After correcting my mistake and making a few other adjustments, the profit is now -$934.50 if I choose the retail flip route. Renting is even worse ...

Buy Sub2 and Flip Retail

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Fair Market Value ... $ 156,900
Purchase Price ...... $ 134,500
Sell Price .......... $ 149,900 (~95% of FMV for quicker sale)

Buy Costs ........... $     500 (title and notary fees)
Holding Costs ....... $   3,843 (3 months)
Sell Costs .......... $  11,992 (8% for CC's and fees)
Total Costs ......... $  16,335

Profit (Loss) .......($     935)

Buy Sub2 and Rent

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                                Method 1           Method 2
                           -----------------   -----------------
Gross Potential Rent ..... $ 1,150.00          $ 1,150.00
Vacancy Factor ........... $    95.84 (8.3%)   $     0.00 (0.0%)
Gross Operating Income ... $ 1,054.17          $ 1,150.00

Management Fee ........... $    92.00 (8.0%)   $     0.00 (0.0%)
Maintenance Fee .......... $    57.50 (5.0%)   $     0.00 (0.0%)
Property Taxes ........... $   342.61 (2.7%)   $   342.61 (2.7%)
Insurance ................ $    61.86 (.05%)   $    61.86 (.05%)
Utilities ................ $     0.00          $     0.00
HOA Fee .................. $    25.00          $    25.00
Other .................... $    11.50 (1.0%)   $     0.00 (0.0%)
Total Operating Costs .... $   590.48          $   429.47

Net Operating Income ..... $   463.69           $   720.53

While I'm not sure what kind of rate she has on her existing loan(s), I'll be conservative and say she got a 30yr 6% loan. Even if she got an improbable 3% loan, "Method 1" wouldn't work as it would only support a $103k balance. "Method 2" would support an approximate 4.5% 30yr loan on a $142k balance. I highly doubt she got such an animal myself. Using the 6% figure I quoted earlier, I believe her payment to be more like $853/month. This would then put both methods in the red. So that route is shot. So it looks like this deal is bad all around.