Probable first deal?

[Joe Farruggio]

Fannie Mae owned condo in a great "hip" neighborhood, 1BR. Asking 170k. Needs $26k in kitchen and bathroom work, new appliances, soffit needs to be ripped down....anyway... Im  a licensed contractor so I'll do the work myself, and with my guys. New Apt next door is renting 1BR @ 1900. More ammenities.... but I figure I can get $1700 after reno or flip it for about $240k. I'd rather flip it obviously.  Looking for some guidance. first time with an investment property.