Just a newbie looking for guidance

[Joshua Wilson]

Hey Bigger Pockets!

I'm getting a little excited about my first potential Flip/BRRR to get me started. I'm hoping to glean from you guys some advice on handling what I want to do. This may run on, thankso Forsticking with me!

I found a 1600 sq/ft, 3/2, with a 1 car garage on .2 acre in my area on a short sale. In peak condition this would sell anywhere from $170 to $190. They're asking $100k for it. It needs a new roof, new kitchen cabinets, bathrooms finished. Some flooring, and paint throughout. It's clearly mid renovation. Based on all it needs I'm contemplating putting in a $60k offer. I'm estimating based on loose recommendations I've seen online a roughly $60k-$70k rehab. My ideal situation is a to BRRR it. I'm in a good credit position right now. I'm hoping to secure the deal, get it inspected, hard money to cover the down payment, find a partner/investor to fund the rehab, rent it, and refinance it.

Using the most conservative of numbers, that's a $70k purchase, with me bringing $14k+closing+holding costs, or roughly $24k. An investor funding in $70k for reno. I work the rehab and hopefully refinance it 4-6 months later. If it appraised around $180k and I can get a 90% cash out refi($162k). Subtracting $75k for the mortgage and repyament of the hardmoney and $70k to pay back the rehab costs. Leaves a remainder at the end of $17k. I know it's making a lot of assumptions but I'm hoping being conservative shows this as something worth considering. Thanks in advance for shining some light on my situation.

First, is my logic on this moving in the right direction?  Did I just miss the mark outright on anything?

When doing something like this, what's the best way to protect myself from getting a deal sniped while I'm looking for interested investors. Hopefully it's not a problem, but I'm hoping most people have felt this way at some point too.

I'm also looking for any good resources on what is a good packet of information potential investors might like to see. I'm assuming the things above(with more accurate or actual estimates from contractors). I don't want to overburden a potential investors with information, but I certainly don't want to miss anything critical.

Is this sort of margin even worth it? In my eyes, I'm carrying a significant risk in the deal as well, so a fair split seems fair to me, but is this reasonable?

Kind of a stream of consciousness, but I'm trying to put all my thoughts down in a way that keeps it objective aside from my excitement to potentially have a starting point.

Thanjs again!