Problem $7-4$

An investor is considering the acquisition of a "distressed property" which is on Northlake Bank's REO list. The property is available for $$203,600$ and the investor estimates that he can borrow $$160,000$ at $4\mathrm{.}5$ percent interest on an interest$-$only loan and that the property will require the following total expenditures during the next year:

$\backslash$table$[[$Inspection$,$$$554$