How does this deal look?

[Cory Mortensen]

Deal is listed at 185k but is completely gutted and needs pretty good work. Walked it with a contractor and he said that reno would be 50-60k and comps in the area would likely support a sales price of around 220-230k. If I cannot find a partner I will seek hard money and expect to get on the high end so 15% and 3 points that I would need wrapped into the loan. Looking at monthly holding costs of around 2500-3000 and a 4 month timeline. I am putting a beginning offer in at 110k because there is no way that property will go or make anyone money at that price. Besides, a property across the street sold for 20k less it's more than livable. Wondering if my numbers are accurate and if this is a deal worth taking. 3/2 1210sf in a C-class nbhd but in hot market that is rapidly appreciating. Ideally I'd do a BRRRR but it's my first deal and I have very limited personal funds. Would love insight and able to answer any questions!!