BRRRR, flip, or pass - from a buy and hold investor

[Andrew S.]

Hey community, I'm a buy and hold investor but looking at a potential flip or BRRRR deal to acquire another property or cash for future rental. I currently own multi-family properties and not as fluent in the SFR market in my area. I'm looking at a fully wallpaper and carpeted house that needs a full cosmetic rehab. Asking price $185k w $15k roof credit (in a way $170k but I like the credit at closing). I could renovate for a rental for $ $50k including contingency or renovate for a flip for $65k (includes $15k cost for new roof). Difference in renovations include adding a bathroom, replacing cabinetry vs re-painting, and nicer finish. ARV is $285 - 300k per my experienced realtor who's a 20+ yr investor as well. I'm conservatively running numbers at $275k. Might be too conservative. My holding costs would be $5k to 10k depending on adding a bathroom. (most of the work would be DIY). After realtor fees, it looks like I'd profit $45k if I could purchase for $150k with $15k roof credit. I'd have to fund the purchase with HELOC and my ongoing W2 savings. "cash" in would be $100k between down payment, holding costs, and rehab. If I kept it as a rental (after 70% refi BRRRR) the mortgage would be the rent, I'd negative cash flow Maint, CapEx, Vacancy, and self managed. I'm nervous to submit an offer because I'd be funding the rehab with a 0% CC and ongoing savings from my job. I recently purchased a 6 unit that drained my savings so I'm hesitant to overleverage myself. Thoughts?