Here are the numbers - I'm unsure because of taxes and how it will impact the bottom line

Purchase Price: $225,000

Rehab:$35,000

ARV:$320,000

I've spoken to a couple of hard money lenders who will lend 70% of ARV and either way I'm going to be spending approximately $40k out of pocket.

So it's looking like 20k profit before taxes. 
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Now I want to explain that I'm attracted to this flip because it's easy. Mostly cosmetic changes and it should be done fast. 

It seems like a great way to get my feet wet and get experience. 

Should I do this deal just for the experience? 

I've even considered looking for an equity partner for the 40k, so its not my cash, and offering to give him all of the profit. 

any thoughts would be appreciated! 

And thanks in advance!