First Deal Isn't Easy

[Errol St Marthe]

So a little about where i'm at right now, borrowed 20k from my retirement to start my first flip using hard money, now borrowed is the key word cause i have to pay it back in 5 years which comes to about $500 a month. I met with a really good investor friendly realtor who has been good at finding properties and gives me full access to the mls. I focus on foreclosures and have been looking at properties from February but always seem to loose deals to other investors offering over listing price on the properties i try to get. This whole process is proving to be a little harder than i thought simply because of the amount of funds i have to work with. Focusing on Southern Md area. Just looked at a 2bed 1 bath property on an acre of land bank asking 53k. Problem is this thing is tiny, only a little over 700 sqft. An addition is definitely needed but my realtor was like she gotta pull comps for me before i  get ahead of myself. I feel like for my first flip i really don't want to jump into additions or full gut like another property i am also looking at at this moment. At this point i'm just needing motivation and advise from fellow members on here lol. My next option is to partner with a friend of mine but he has a repo business and i know he will not have the time to put into it like i will.