Rockville area - Pre MLS

[Chris Drury]

Hi BP crowd,

I have a few rentals now (4) and trying my hand at flipping next.

Basics:

Rockville MD area with average 360k properties.  

Ran across a seller who is looking to unload a place for $225k (that is our max offer that is currently being considered).  She is selling for a relative and any profits will go straight to MD to cover her elderly relatives senior care costs. - hence they aren't too concerned with price

My rehab partner is estimating 50-75k for repairs to cover roof, kitchen, bathrooms, ect.

70% rule would argue no more than $180k sales price but that is virtually impossible in the DC metro area. 

Thoughts?