I have a family member trying to purchase a home for $276,000. 

They want to put $100,000 for the down payment and the estimated rehab is around $50,000 (husband is a contractor, he can do all the work). They will also be doing an FHA Loan ($9660) and FHA 203K for this home.

They were told the mortgage would be around $2500/month and rent each unit around $1300/month (2 big units can be rented out for this price). Taxes are around 9-10k/year.

I crunched the numbers and figured out that the ROI is well below what a typical investor might consider profitable.

I'm I right on this one?

Here is the listing, below.
https://www.zillow.com/homedetails/1110-Myrtle-Ave-16-Plainfield-NJ-07063/40029058_zpid/