First time investor! Input?

[Michael Queen]

First time investor here. The numbers on this deal make sense, but I'm hoping for additional input to make sure I'm not overlooking anything major. 

I am planning on using a HELOC to do my first BRRRR. The property is a 900 square foot condo that functions well, is just out dated. It needs paint, flooring and a couple appliances. I have an experienced property manager/realtor helping with this. The specifics are as follows:

• HELOC - $55,000
• Purchase Price - $37,500
• Closing Costs - $4,000
• Rehab - $15,000
• Rent price - $1000 (includes $165 HOA fee)
• ARV - $73,500 (purchase price of the exact same condo 2 months ago)
• Cash out refinance (75% of ARV) - $55,125 (pays back HELOC)
  • (Already have lender lined up for 6 months post-close)
• Post-refinance cash flow - $225 conservatively 

Six months out, I want to have a cash flowing property for minimal money out of my own pocket. I do have an extra $10k in capital I can comfortable spare for if (when) unexpected things come up.

Plans fail for a lack of counselors. Any additional things I should be considering?