Buying my first flip numbers breakdown and thoughts

[Kyle Waggoner]

3/2 1,387sqft

House is forclosed and listed for 105K

Charlotte NC Market

comps on renovated houses range from 131-155k

the 131k does not have a renovated kitchen or baths

thinkning of offering between 85-90K

I estimate $11k in repairs including new kitchen, updating the baths, new floors and paint.

Sell for 140-150k

It works with the 70%rule at 87k and i am paying cash for the house.  

The cost of labor is me:).  Since i am doing all the work and i would expect other flippers to hire out should i offer less?

I come from a construction background and understand what a fully renovated house needs to look like.  

Thanks,

Kyle w