I see thanks. My calcs whilst on the bus now go like this...(high level, ballpark)
Purchase price -$260,000
Sd, Transfer, misc etc -$10k
Knock down -$20k
Subdivsion, permits,plans etc -$40k
Loan of $260,000 primary purchase
Loc of $70k for project expenses
Servicing for 6 months -$11.5k @ 5%...