Trying my first BRRRR. Need advice!

[Brandon Levi Eagan]

I'm looking at a local SFH for sale. This would be my first rental property and first BRRRR.

Asking price is currently $100,000. It’s been listed for sale for almost 4 months.

3 bedroom 2 bathroom 1780 square feet

Fenced in backyard

Attached 2 car garage

New metal roof 2018

Taxes 2200

Built 1968

Assessed in 2018 at $119,000

Lot size 71 x 110

In a good neighborhood

Very outdated interior and part of old siding is falling off

I was going to use a hard money lender and offer roughly 85k and spend 10k renovating. I was going to lend 90-100.

This rehab shouldn’t take longer then 1 month.

I was going to then refinance and aim to get an ARV of 140,000+. There are many homes in area that are selling for 150 + range that have been updated.

There’s a wall that separates living room and kitchen and was thinking on knocking it down to open it up.

Electrical and plumbing look good but have yet to call for an inspection.

Find tenants and refinance, I have been pre approved at local credit union , and pay off hard money lender.

Any help with this? I’ve ran some numbers through the BP Calculator but my cash flow is very low.

Rent in this area for this house would range from 1000-1100.

Any help would be much appreciated !!