So I'm just starting out, about to make my first offer on a house. It's a foreclosure, I'm going to offer 140k. The house should sell for 260k after it's fixed up. The kicker is that it's going to need about 90k in repairs because it needs 40k of foundation repair work.

My first question is: if I'm going to buy in with a conventional mortage, I can put 20% down because I have a home equity line of credit on my current house. I'm wondering if I can get a loan for more than the 140k I'm offering, say 160 or 180k to cover some of the repairs? I don't know that I can come up with 90k for repairs on my own. Is this an option?

Second question is: What kind of profit should I be looking to make? If I have to invest 30k cash for a 20% downpayment, then another 90k for repairs, that's 120k total cash injection. If it takes me 6-10 months since it's my first flip, how much should I realistically be looking to get back on the 120k invested? Maybe conventional wisdom and seasoned deal finders would get 30k-40k back on 120k invested, I was hoping for 20k (18%). As everyone knows it's hard to find deals and I'm mainly looking on MLS so the margin isn't going to be huge.

Third question is: I was hoping someone could help me out on some repairs estimates for the midwest. I live in Omaha specifically, but any midwest estimates should do. Keep in mind this is a 260k house which in Omaha is pretty nice, so no low grade materials.

Hardwood floors: $10/square foot

Tile: $10/square foot

Carpet: $5 square foot

I'm sure these are higher than most people estimate, but keep in mind I'm a first time flipping with no prior relationships with these contracts, so no return customer deals. Any help would greatly be appreciated! I love BP and look forward to gaining more knowledge and being able to contribute more.