1st time flipper foreclosed house owned by county

[James Fitzgerald]

A friend and I are looking to flip a 2 bed, 1 bath house 1300 sq ft house. The purchase price is $20k and have ball parked 30-40k for complete rehab, new roof and repairs. The comps in the neighborhood/town are 95-150k (I know huge range. 150k sold 1.5years ago only same neighborhood at 1050sqft). The area is high demand and very good school district.

What info or advise do you have for us? Any and all ideas would be greatly appreciated.