$175 cash flow but CoC 3% - Would you buy?

[Charlie Anne]

I am getting to be “too close” to this deal so... would you invest in this?

I’m already under contract but can back out during due diligence.

-118k price 

-7.5k closing costs (so high!)

-20k repairs

= $145k all in

-ARV is 160k

-Rent $1350

-$175 cash flow/mth

So all in all there's low CoC at around 3%. Requires $51k out of pocket. The area appreciates quickly.


I suppose my hesitation is that it requires a lot of work to renovate and maybe my $50k could be more efficiently used elsewhere. On the other hand it took me forever to find a deal that cash flows. 

Would you buy this house?