Help Evaluating my first potential deal???

[Braighton Coey]

To anyone reading,

Thank you for clicking and being open to helping. I have found a deal that seems pretty amazing, but this is my first attempt and want to make sure the numbers are in my favor before pulling the trigger. I'm trying to mitigate my risks upfront. Looking for several opinions on whether this is a good buy or not.

Can someone help me with the numbers. I estimated $20k for repairs. Floors, Walls, Ceilings, Kitchen, Bathroom. Does this seem right? 

I looked around the area on craigslist and others to see rent was around $750-$800. I'm trying to be conservative and go $700. Same with ARV.

I looked up the taxes from the auditors website.

I am in the works of scheduling an open house but am just trying to figure out if this is a good first buy.

Thank you in advance for anyone willing to help.

http://www.realtor.com/realestateandhomes-detail/3...

[Nicholas Lohr]

i just quickly looked at the prices of the other properties in that area and there is a wide range but 13k is definitely on the VERY low end.

My guess is 20k for repairs is too low.  Walk that thing with an experienced contractor that you trust before you buy it!

Also make sure it will really rent for what you are projecting and that it is in a desirable enough area to attract the kind of renters you want, or are ok with, in the first place.

also read this....

https://www.biggerpockets.com/renewsblog/2015/08/22/truth-30k-investment-properties/