Arkansas Deal Analysis (Loan, wholesale, flip...?)

[Paul Thompson]

New to the site and want to share some numbers on a property i'm considering. My interest in the following is as a lender or investor to wholesale / flip. 

This is a 2BR 1B Rehab in Central Arkansas

The Rehabber is in the property for $60K ($10K purchase price and $50K improvements)

Rehab'd value is estimated at $120K 

The Rehabber is cash short and looking for $5-10K to finish improvements. I estimate the property needs a good $7K.

I have the cashflow for the $5-10K (but just barely)

Options as I see them

1. 1. Lend the Cash with appropriate terms
2. 2. Buy the property as is at 65-70% value ($78K-84K)
3. 3. Throw in the towel and just bird dog this to someone with more experience and learn during the experience
4. 4. And of course do nothing

The questions: 

1. 1. I haven't been in the money lending side of things yet so what should I be considering or thinking about for terms?
2. 2. Knowing the property needs $5-10K of improvements does this look like a worth while wholesale and/or flip
3. 3. Do you think another investor would think this is worth the time?