Potential Buy and Hold

[Bolawa Fadoju]

Hey BP Family,

Newbie here putting in an offer on a Buy and Hold SFH (2BD, 1B, Half Basement). I'm looking to offer $90k for this property, rehab costs in the region of $45k. I envision using cash for 20% down payment and closing costs which would equate to about $20k. Rehab costs to be covered with a line of credit I have access to. ARV will be $140k, home can rent for between $900 - $1000 (tenant to pay utilities) Once my expenses are covered I cash flow at $236/month with Cash on Cash ROI of 14%, NOI of $6300 (if rented at $975)

Is this a deal worth shooting for and is there anything wrong in leveraging a LOC on rehab costs.

Thanks.