Deal Analysis review, SFR with HML->CL

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Hoping someone could fact check my work.

I just created a spreadsheet to help me to evaluate deals. I'm still not 100% sure I've got everything down, but tried to be as comprehensive as possible. Even went so far as to factor in the period of time between a HML loan and the CL refi, since someone has to make the HML loan payments while a home is being rehabbed prior to the CL refi.

Would appreciate an evaluation on whether this is capturing and presenting the right information based on the assumptions listed.

Also, based on the numbers, does this look like a good deal? To my novice eyes it looks reasonable. Cash flow is there, even after factoring in the 50% rule, cash-on-cash is above 20% ..not 25% or 30%, but still reasonable as compared to my 401k :)

Thanks,
Bryan

This is for a SFR, 3.2.2

Assumptions
ARV $82,000.00
Purchase Price $53,000.00
HML Interest 14%
CL Interest 4%

Hard Money Loan
Closing Costs $4,000.00
Rehab $10,000.00
Required Investment $67,000.00
HM Loan Amount 70% ARV $57,400.00
Initial Cash Investment $9,600.00

Refinance Loan
HML Int Only 14% $669.67
HML Payments (no. of mos of rehab) 3 $2,009.00
Adds to total cash investment, as interest payments must be covered out of pocket

Payoff Amount $55,391.00
Closing Costs $4,000.00
$59,391.00
Conventional Loan 75% FMV $61,500.00
Cash Investment $(2,109.00)
Subtracts from total cash investment

Rent - 2% rule $1,060.00 $1,000.00
Monthly P&I 4% $264.45
Operating Costs - 50% rule $530.00 $550.00
Monthly Costs $814.45
Cash Flow $185.55
Equity $20,500.00
Total OOP (includes HML payments) $9,500.00
Cash on cash 23%