BRRR Analysis Help on First Investment

[Melissa Block]

I'm sorry if this is a duplicate. I've tried to post, but it doesn't appear to be saving. 

Property 2-unit duplex 2bd 1ba/Unit (possibly 3 bd haven't seen interior online details conflict.) 70125 zip code minutes from Bourbon Street. 

Hello, I'm unsure if I made a good deal and if the BRRR method will work for this property. I received comps from 3 agents in the area, and all were different here is the range if I did a higher-end reno for the area.

Comps on ARV 230K-380K - I decided to use $290K in the report

Rental target $1600-$1850/unit/month - I decided on $1650/unit/ in the report

I estimated all costs on the higher end to ensure I was being realistic and not trying to overestimate.

Also, as an FYI, I bought this property at auction, and I have not seen the interior however, the image I attached is the exterior as it is today, and it is in good condition. A contractor went out and looked at the exterior and did not recommend any repairs from what he could see (he was assessing if he saw any safety issues or foundation concerns, or significant items such as windows, roof, etc.). The last permits for reno were pulled in 2008, but I couldn't obtain what those permits were for.

The cash flow looks a little low. Can anyone help me understand this report and if I made a good deal or if the cash flow is too low? I'm unsure what my target should be for cash flow? If this isn't a good BRRR would you consider flipping it instead? Any feedback is appreciated.

[Tim Herman]

@Melissa Block taxes seem low. Since you haven't seen inside how did you determine rehab cost. Do you have to evict? Won't be able to refi before 6 months to a conventional loan. Are the utilities separated, the way you inputed the landlord pays. Shouldn't have any pmi cost on a refi with 45% equity. What does the HOA cover? Is this in a flood zone because the insurance seems high. Did you run capex and repair budgets. Usually my capex budget is higher than my repair budget. Rather than paste the analysis there is a discuss in forums button that links the analysis on the last page. It is easier to read. I had to open the analysis in a separate page to be able to read it.