First Flip Help Asbestos Tile!

[Skyler Mckinney]

So I got my hard money approved and I have been looking every day for a deal and have finally possibly landed on one. So opinions would be greatly appreaciated. The house is from a wholesaler He wants 134k and the comps are from 180K low end not rehabbed to 220k Fully rehabbed. I have bought and read the book estimating rehab costs by J. Scott but it doesn't go into everything. I figured by using the rehab cost analyzer with using very very high estimates that the rehab would be somewhere around 47000$ So I'm going to make an offer of 110K and go as high as 115K and bail if that's not good for him. So my rambling ends and my questions are would it be realistic to do a complete rehab on a house for around 35K? The bones in the house are in good condition its 1200sq ft not a lot of demo as the kitchen has already been gutted. This is in a lower end neighboorhood so I would be using pretty basic materials and not doing anything special. But the house needs a kitchen a half bath the full bath has already been remodeled. Carpet throughout minus kitchen would go ceramic. Needs a new roof, central air, windows, I can provide a video through message of the entire house. But my biggest concern is there is asbestos tile throughout the whole house and I know that is$$$$$$$ to remove so as my first deal I don't want to get into something over my head but if things go right after hard money costs and everything could be looking at a 27k profit which will give me to start funding more deals.  Please help! 

Needs:

Cabinets/countertops 

All appliances in kitchen

Tile in kitchen 

Wiring brought up to code

Fans/fixtures in every room 

Asbestos tile removal  

Carpet in rooms laminate in living room hallways 

Central air (furnace brand new)

Paint/Baseboard replacement 

Minor Sheetrock work 

New roof soffits/gutters

outlets replaced

pannel rewiring (the house was built in the early 60's)

windows

bedroom doors

paint

wood panel remove in two bedrooms with no sheetrock behind it 

small not load bearing wall demo 

 I know This is asking for a lot but I really don't know and I know numbers make or break a deal. I just want to know if its possible to do all of this for 35k or under without having a relationship with any contractors I can do some of the work my self but I know the asbestos tile is what's going to kill my budget. Sorry for the long post 

[Bob B.]

@Skyler Mckinney It looks like you've put a fair amount of time into this deal already, however I think you should walk away before you make a mistake.  This is much larger project than you should take for your first deal.  I would bet that about halfway through the reno you'll be sitting in the middle of the house wishing you'd started with a smaller project and wondering how in the world you're going get out of this unscathed.  Take what you have learned and go find a manageable deal or get an experienced partner. Good luck.