Hi, I'm looking forward to my First Fix and Flip and learning from your experiences..

I've been researching this property. History shows the seller orig bought it at $186000 and is reselling for $219000 AS-IS. It's a large property - 3 Unit, 2554 sqft with a driveway. With an estimate Rehab Budget of approx. $27per sqft = $70,000. I'm questioning this deal because unless you spend less on the Rehab and increase the ARV by looking at high end comps 340000, it seems too expensive...but maybe I'm misjudging.

Any feedback on evaluating whether this unit Property is worth it?

Financial Breakdown using Fix/Flip calculator:

Purchase Costs
Purchase Price ($194,698.37) 

Purchase Closing Costs ($1,500.00) 

Total ($196,198.37) 

Rehab Costs
Total Rehab Costs ($70,000.00) 

Total ($70,000.00) 

Holding Costs
Monthly Holding Costs ($3,427.00) 

Total Days Held 187 

Total ($21,361.63) 

Sales Costs
After Repair Value $349,000.00 

All Selling Closing Costs ($500.00) 

Real Estate Agent Fees ($20,940.00) 

Total $327,560.00
Total Profit for Flip $40,000.00

Thanks so much for your feedback!