am i reaching here? analyzing deal

[Nick S.]

i'm really hungry to buy my 1st property (live and flip) by feb 2020 as a goal. i was on a roll earlier this year, but just got burned out checking dozens of houses in person every weekend. would love to know if i'm reaching here based on the details of the deal. it misses all the guidelines (aka 1% rule, 70% purchase) so just trying to have people keep me honest.

goal is to live and flip. back up exit is to rent it out. this would be my 1st property so huge learning step for me

listed price: 225k

purchase price: 207k

no major updates except some minor fixing/upgrading that would cost about 10k (dad's the general contractor)

based on recent comps (provided by agent): arv around 235k maybe 240-245k

rent for similar: $1800-1900 (pushing it)

i'd live here for at least a year, put down 10%

the really big positive (i think) is that the property is in a desirable school district

i can try to provide as much details as possible.

thanks.