First rehab

[Robert E lunt]

Im a new investor/agent in the Sarasota/manatee FL looking at a project in Venice FL (flip). It's a big 2000 sqft deemed on county records a 2/2 but its a 3/2 and could be a 4/2. (Converted garage). Partnering with the owner to fix and flip it while he currently has a tennant in there that is helping fix the house. My remodeler thought it to have upwards of 60k in repairs. Cost is 100k and I feel like comps show $210 ish. I can contribute $5k cash, $10k credit, and sweat equity with demo and cleanup. Pro's- size, price, newer roof, solid foundation, potential, situation. Con's- wood frame, corner lot(busy street), needs siding, landscaping(grass and tree work), plumbing, kitchen, windows (5), base boards, paint, bathrooms, etc.. The seller/joint venture has a hard money loan on $50k. Does anyone have any helpful advice or critisism on this being a deal or not and how can I maximize my earning potential and minimize my cost-risk?