What do you think of this flipping project?

[Jered Collins]

Found a 1927 two-story home.  Has tons of character.  

ARV = $220,000- $180,000

Listed at = $99,900

Projected offer price = $85,000

Estimated Rehab $60,000 - $50,000

Holding Costs = $11,000

Realtor, Closing = $19,900

Estimated After-Tax Profit = $22,000

PROs:

Brand New HVAC system with ducting installed

Brand New thermo windows installed throughout

Beautiful hard wood floors on the first floor (need refinishing)

Tall ceilings (has a drop down ceiling right now though)

CONS:

Only 1 Bathroom on 2nd floor, going to add a half-bath on first floor

Has drop down ceiling on first floor and plaster walls 

Kitchen needs to be completely reconfigured and floor leveled

I want to knock out a wall between the kitchen and dining room and make a kitchen with an island and either quartz or granite countertops.  

Kitchen remodel = $17,000

Bathroom Addition = $10,000

Upstairs Simple Remodel (vanity, maybe new tiling) = $2,000

Walls and ceiling refinished = $8,000 (*** This is the most unsure costs I have, advice greatly would be appreciated ***)

Thoughts on this flip?