Advice on a fix and flip property

[Keith Chew]

So, still fairly new to investing in real estate, I have been looking for buy and hold properties in my area. I just happen to stumble on what I think is a good candidate for a fix and flip. The house is being sold for 125k as a 2/1 with "extensive rehab" needed. My agent had told me that we could sell the house after the rehab for at least 215k if we added another bedroom. My agent also told me that the house might qualify for a 203 renovation loan and that the loan comes with a licensed contractor to come look at the property. As this is my first potential purchase, I am scared of paying too much for the rehab.

Any advice or suggestions?