Hard Money - is this a good deal

[Jason Davis]

House is ARV is $140 to $150K
listed for $124,900
My bid will be $75k

Lets say I get it for $75k (yet to be determined)

Hard money deal for $80K

Interest only payments paid monthly
interest is 14 %

No points up front, his minimum points is $2,500 on the back

after 90 days there is a 28 per day fee on top of points. Max charge for points and per diem is $5,020.
8 month deal but he added that as long as interest is paid I can keep it on the market (will get in writting)

How does this sound for a newbies 1st deal with a lender?

What am I missing and what needs to be clarified with lender?