First Reno & Flip Project - Advice

[Karisma Penn]

I'm going back and forth on the numbers for this deal but because I need to bring in a partner to have enough liquid capital to complete the purchase. I would love it if a seasoned investor could look at the numbers I have to see if I'm on target. Purchase price is $141K. ARV is minimum $280K for the area. I have a short term hard $ loan for 75% LTV for the loan with $45K for the renovation.

PP: $141K | Rehab Costs: $45K | Financing Cost (Interest Only): $14,500

Total Expenses: $199K

ARV: $280K

After closing and paying back my partner with 25% interest, I would have about $40K left over from the deal.