Need help reviewing 2 fix and flip opportunities

[Christopher Hill]

Hello all- I'm beginning to analyze fix and flip deals. I've have located a few listings very close to my own home. I am familiar with the area as I have analyzed it, and lived in it, for the past 6+ years so I am confident in my (conservative) ARV. However I need some help making sure I'm considering all the costs and have enough for a worthwhile profit or if these are not good enough deals to consider.
 

House 1: Harvey Flooded Foreclosure Single Family (Patio) Home 3 BR/2.5 Bath, 2350 Sq Ft

• Listed Price: $170k (would like to offer less)
• ARV : $300k (~$130sq ft based on comps)
• Margin at Listed Price : $130k 
• Estimated Rehab : $60-70k (house has been gutted post-flood, appears to have had about 1 ft water. Will need sheet rock, trims, flooring, cabinets, toilets, fixtures, interior doors, appliances. Plumbing, electrical, foundation, HVAC and roof remain unknown at this time but the optimist in me thinks most of this was likely operational pre-flood having first hand experience with others who repaired post Harvey. Obviously this is still significant and I'd love to hear if anyone knows of expensive nuances around repairing and selling a flood house in Houston.
• Closing Costs - $6k 
• Financing Costs - HML quote I received was 2 points, $500 admin fee and 1%/month. = $4800 points + $500+ $14,400 interest for 6 months = $19,700 - Is this math correct? This is hideously expensive.
• Closing Costs to Sell - ($300k * 3%) + flat fee listing $4500 = $13.5k
  
• Net Profit  - $ 20k 

House 2 : Single Family Home 4BR / 2.5 bath, 2900 Sq Ft 

• Listed Price: $275k (would like to offer $260k)
• ARV : $420k (~$145sq ft based on comps)
• Closing Costs - $6k minus 1.5% kickback from buying realtor = total $2.1k
  
• Financing- Assume I could use a conventional loan - 5% interest / 6 months= $6.2k (open to suggestions on financing)
• HOA - $300
• Taxes - $600 * 6 months = $3.6k
• Remodel Costs - $90k - The home has very dated finishings, definitely an elderly persons home. Expect to entirely repaint and re-floor, cabinets, bathrooms, fixtures, appliances, outdoor trim and paint. Electrical (70's house), plumbing, and HVAC are all unknowns currently.  
• Closing Costs to Sell ($420k * 3%) + flat fee listing $4500 = $17.1k
  
  Profit : $40k

Thanks in advance for the help. I understand this is somewhat rough and I welcome all constructive criticisms to my logic here. I do have a contractor who does great work at a great price, but may need to outsource to a turn key GC for this size of project if I can. The financing is my other huge hurdle simply because of how much of my margin it diminishes.