Potential flip, worried about bad timing & surrounding REO homes
So I am looking into a 3b 1.5 ba 1500 sq ft with 2 car attached garage. This would be my first flip, but newer REO home, built in 2004. Fair condition, needs AC, updating in kitchen. clean up and landscaping. Asking price is 95K, ARV is 135k, with rehab at $8500. Concerns are going into fall being able to sell quickly, as all fixes are able to be repaired in 12-20 days. Also, it is in an area of town that in the 2003-2005 range was an "in-fill" area of town and all homes are like build, but with 3 just like this on the market now. One of the properties is sale pending, the other is on market for 1 week now. If not sold, how difficult can it be to refinance and keep for rental? Rents aren't great but it would clear 2-300.
My experience is general handyman around home, basically doing a flip in my first home while I lived there only hiring mud/tape and refinishing wood floors. I have a friend willing to help who is a contractor and a brother who is a licensed electrician. Using VA loan so cheap to get into and market in this area is good, though the time of year is a concern for sure.