may have a first deal - please help

[Hector Romero]

hello BP, I'm a newbie trying to make my first deal in the DFW area. I've found a house through my realtor that is a bit outdated. The kitchen and the bathrooms need to be updated. The Hvac system is shot and needs to be replaced. The house was built in 1959 and will need a lot of work. my contractor gave me a quote of 20 - 25K to get it updated.

There is a very recent appraisal on the house and is contingent on fixing the hvac system; the appraisal of the house is 112K.

The seller is willing to let the property go for 87500. is this a good deal? The ARV my relator gave me is 129K

the house is roughly 2200 sqf. It is located in a nice, quit street. I would like to fix it put it for rent. Realtor thinks I can get $1200 a month.

thanks in advance for your time.