Need help with my BRRRR Analysis

[Troy Carter]

I'm a new investor in Fresno, Ca with a private lender ready to fund my first deal.  Before even thinking about making any offers, I am trying to do some mock analyzing to make sure I know what I'm doing.  This is my first attempt at analyzing a deal and things just do not seem right to me.  In this scenario I'm paying 50% below market value, only cashing out 65% on the refinance and still only cash flowing $161.  I thought for a single family investment property one would like to be at more like $300 cash flow.  Am I doing something wrong here?  What does it take to get a better cash flowing deal?  Am I paying too much, taking out too much on the refinance, doing the analysis totally wrong, or is this just not a good market area?  Any input on this mock deal would be greatly appreciated.

@Jason Pritchard if you have time to give me your feedback, I always value your opinions or if you know anyone in our area that might be willing to help me, please let me know.  THANKS!