Is the risk bigger than the reward

[Mark P]

I live in NJ I have been searching for a house to flip.I found a bilevel foreclosure for $249,900.00. The comps are @$315,000.00 The house is trashed and needs $40,000.00 in renovations my cost.Once I add in closing costs,carring costs, realtor 6% when I sell it
there is not much left for my profit.
What is a fair profit margin.