Do these numbers make sense??
First of all I apologize for potentially asking a silly question. So I'm interested in buying a single family 3/2. I want to use the BRRRR method but can't seem to make the numbers work and think I may be doing something wrong. The house is 50K, Rehab cost 35K, and the ARV is $120,000 conservatively. Rent in the area for similar homes runs at $1,200 a month. Property taxes $1,000 a year and insurance is around $70 a month. I want to gain all my investment back with the refi. Is there a way to work these numbers to have a positive cash flow? Any help would be great!