Analyzed Property - Potential First Deal

[Dustin M Prasuhn]

Good afternoon,

I am new and do not have any deals yet.  I have been analyzing properties for a couple of months and the numbers never seem to work (which is ok).  Now, I have analyzed a deal and the on the outside, the numbers seem to work out...only down fall is that there isn't much meat for cashout at refi.  

Here are the details: 

asking: $29,500 

arv: $ 52,300 

rehab: $15000 (very conservative) could be as low as $8,000

rent: $550 (occupied) / $550 (moving out at end of month)

My question is what am I missing? I've calucated in the closing costs, HELOC repayment, and bridge loan payment. It seems that there will only be about 5k on cash out refi after closing. I'm not as concerned with the cash out as I am with getting my first property under my belt. What do you all think? Any advise is greatly appreciated.