Help! Should I do this deal?

[Abe Macias]

Hello Everyone!

Need help with the below opportunity I have, any advice would be appreciated! Would you all do it?

Very Distressed home needing to be demo, and wanting to build a duplex ground up. Here are the numbers:

$70K - purchase price

$30K - demo

$240K - Cost to build 2,550 total sq ft ($94/sq ft)

$80K - Available to put as my D.P.

$1,100/Unit - Avg. Rental Income in area

My loan would be roughly be $1,850/month, so I would cashflow about $350/month.

This is a family members home, and want to keep the property rather than sell it to someone else.

I appreciate any feedback! Thanks!