Condo purchase analysis input please

[Martha Blumel]

I had someone call me over a week ago (very motivated) needs to sell her deceased grandmother's condo. It's 55+ Approx ARV is $55k. There is a pending in the $70s across the street, same development. Only it is an all ages, so I am not sure how much of a difference that makes.

 15,000-Loan Balance

+7,000-HOA past due*

+2,500-Probate Lawyer

+2,000-cash to seller

______

26,500-sub total

+1,450-Closing Costs (used a title company app)

______

27,950-My purchase Price (cash)

+2,400-6 mths holding costs (HOA, Electric, Water in 55+ w/ no possibility of renting)*

+1,150-6 mths taxes & insurance

+5,000-Estimated rehab costs*

______

36.500

+4,310-Closing Costs and Commission (see app for details. )

+2000 - balance of cash payout to client (she already agreed)

______

42810 - Total costs

 55000 Sell price (Im being very conservative with comps)

-42810

______

12190 potential profit

4000 no commission

_____

15190 potential profit fsbo

*There are some "ifs" in this. She is still working with the HOA board to get the fees paid down.

Rehab estimate is site unseen. Going on what she said, but will get in to see it this weekend. Is suppose to be mostly cosmetic. so there is some wiggle room there and in the holding costs.

I know the profits don't seem like much, but she is desperate and I really want to figure out if this is doable. 

So, please give me some feedback, suggestions etc. Thanks! =)