How do I figure my max auction bid?

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I'm planning to go to an auction in 2 weeks. I hope to buy my first property. I'm trying to figure out what my max bid should be for the property. Any help or advice is much appreciated. 

Projected sale price (ARV) $208,000

$208,000 x 70% = $145,600

Subtract the amounts below from $145,600

Real estate agent 6% of $208,000 = $12,480

Closing cost for buyer 3% of $208,000 = $6,240

Rehab cost $15,000

Hard money costs

Borrow $110,000 + 3 points = $113,300

12 % interest = $1,133 per month

Expected minimum holding time 3 months x $1,133 = $3,399

Water Authority Lien $247.52 (I was told that this probably would stick to the title after the auction)

Max bid at auction $108,233.48 ($110,000)