First time investor. Should I buy to BRRR?

[Bojian Li]

I'm a first time investor looking to get started in REI. At first I was looking to buy an MFR and house hack it, however while browsing locally I found a foreclosure that could possibly be a great deal.

It's a foreclosure for about 25k; 4 beds and 2.5 baths 2500+sqft. This is a complete gut reno, however, arv should be around 170-200k as that is what similiar homes around the area is selling for. 

Now if I follow the 70% rule I have about 94-115k for costs as well as reno right? 

Is this a good deal/should I go for it?

Any advice would be much appreciated.

Also looking to connect with anyone in the Hudson Valley area in NY.

Much thanks.