First Rental Property

[Shawn Alexander]

Im about to purchase a home in IL. I can get the single family home for 150k, ARV is 158-168k. I'd have to put into the house 8k cash to rehab(kitchen). So I used the BRRRR calculator, and I should have a ROI of 16.1% I've personally set up a minimum of 15% ROI at least on my first home so I can get a feel for the process and working thru leases ect. Now I've put out already like 20 offers, this one im negotiating and I feel like I am about to nail this contract. So I have a few questions.

-Is this ROI sufficient for a first home?

-The person im negotiating with has decided to no longer counter, they shut down even after I provided comps and facts. With that being said should I keep pushing or just do a final best offer?

-Have you bought a property thats basically rehabbed, slightly under ARV, and with little cash to invest in the rehab for a rental?

Any advice is appreciated!

Thanks!