Long Island, NY Flip - Water Damage & Mold

[Michael Anspach]

Looking for some professional opinions and info on the following potential flip:

SFR, Excellent neighborhood, 5bed, 3 bath.

Vacant home with frozen pipe, water damage and now mold.  Would have to be purchased cash.

Asking price $300,000.  Taxes are $12k per year.  Closing costs have to assume $20k for this area.  Due to NY closings, etc, have to figure 9-12months for this to happen.

While awaiting recent comps from my agent who is familiar with this area, wondering what you guys think. My initial thought is ARV is $460,000-$500,000. Was looking for feedback on any water damage/mold issues anybody has come across.

TIA, let me know if you need any more info.