Problem $7-4$

An Investor is considering the acquisition of a "dlstressed property" which is on Northlake Bank's REO list. The property Is avallable for $$204,000$ and the investor estimates that he can borrow $$160,000$ at $4\mathrm{.}5$ percent interest and that the property will require the following total expenditures during the next year:

$\backslash$table$[[$Inspection$,$$$560$