First Purchase - is a $30k renovation too large for a newbie

[Matthew M Spolsky]

I've got a deal I'm ready to move on. I've analyzed it every which way and have my numbers firm for the mortgage. The CoC ROI is between 12 and 18% depending one how much is offered. But I am factoring in a $30k renovation budget. Tenants are already in place as well. Is the $30k renovation too big of a project for a first time buyer? This is my rough estimate and I'm assuming it could go either way, but $30k is my high end right now.