SFH Deal Analysis

[Wade G.]

ARV 260k

Repairs 30 - 35K

Asking price 185K

I used to buy deals like this but rates were lower and I'm not sure it's worth it anymore. Stable middle class neighborhood, rents $1700 - $1800, 3/2/2, 1800 sq. feet, 1980's build in Houston, Tx suburb. Hard money route with conventional refi at 70% LTV puts PITI at around $1700 so no cashflow (so doesn't make sense to do that). Skipping hard money route and putting 25% down plus repairs would be close to 80k out of pocket and break even cash flow (also doesn't make sense). Curious if this is comparable to what people are seeing out there?