Flipping a property.

[Kirill Yab]

Hello everyone! Thank you in advance, for taking the time to read this and for your advice.

Here is my dilemma. There is a house I want to get. The entire property is about 3500sq ft. Give or take.

The owners bought the house 3 years ago for 140k they have done minor fixer up things and one huge renovation for 10k on there bathroom.

The house is small, 2 bed 1.5 bath and 2 car garage. Small front yard, medium size, with a slope, backyard.

The house is old and still needs a decent amount of work. However, it is in a neighborhood surrounded by wealthy neighborhoods.

They got the house appraised and with some minor repairs the appraiser told them they could sell the house for 225k, without the repairs, it could sell for 180-200k. The homes in that neighborhood have sold for over 300k. My question is. Would this be a viable flipper? My only issue, I would have to get a bank loan to buy the house, I can put down on the loan so that's no problem. But I would need an extra 20-30k, maybe, to reinovate the house and raise the price to 300k or close too. 

It is a well sought after area because of all the higher end corporations, hospitals and downtown area. 

Things I would need to reinovate or replace.

Carpet

Siding

Kitchen cabinets and maybe the entire kitchen.

Fix the deck and add roof.

Fix the front and back yard.

Repaint inside.

Replace rotted beams.

Could be other things.

Most repairs I can do on my own.

The owners want to sell it between 190-200k without extra repairs and up to 225k with the repairs.

Let me know what you guys think. All advice is appreciated.