I look at the total of my estimated costs including: closing; on both the buy & the sale, holding, rehab etc. then I determine a minimum amount I feel good about making for the amount of time I think it will take to do the rehab and resale.I also look at the risk involved.

But your engineer should be able to come up with an estimate.  

2. 3% loan interest looks aggressive, I would budget 3.5%, have you been pre-approved to get a better estimate? 

I also ship new, affordable (ready to assemble) cabinetry nationwide...if you're interested in a free estimate please let me know. 

Now to make it even sweeter, me and my mother currently reside in a house in the Bronx that has a remaining mortgage balance of 225,000 with an unnoficial estimated appraised value of 719,000 sent by the bank.

Now for the expenses part I was taught that you should estimate that expenses will take up 40 PERCENT of your income which is 1560. 

In order to fix the floor, using my insurance, I needed access to the house and photos for an estimate.

Do not have an official rehab estimate yet, but right now its probably ball park $50-60k.

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How did your appraisal vs. estimated ARV turn out?