I get from my calculator
Purchase Price: $319k
Deposit of 5% + costs + LMI + stamp duty + legals: $36k
Renovation: $32k
Total Cost: $387k
Sale Price at Value: $400k
Less Agency Fee 2.2%: $8800
Less Selling Legals and loan discharge: $1500
Less Total Costs: $387k
Net gain: $2700, and that does...