Thoughts on 3/1 SFH - complete demo & rebuild... Up to 28%ROI

[Donald Capwell]

Purchase price for 3/1 on 1 acre outside of town but only 5 minutes from major military base - $50K (realtor estimates land value at $65K)

House is block construction, and foundation/walls are solid.  The rest of the house has to be completely gutted and rebuilt.

Cost to demo, build 2 story 3br/2.5ba, and landscape - $113,500.  Note:  there is NO garage.   Cost to add one is an extra $116k... Not going to happen...

Buying transaction cost = $1950

Holding cost = $1292 (contractor quoted 8 weeks, so I'm figuring 4 months @ $323)

Selling transaction cost - $17,426

ARV - $230k for older homes with less sf and no garage. I will probably list higher because it is essentially a "new' home, but going with very conservative numbers...

Financing is the kicker.. I'm pursuing both private and hard money... Private money @ 12% leaves me just over $45k net and 24.3% ROI... If I can only get hard money (most likely, because I need 100%), then the deal changes a bit, but still a good deal...

Right?  Am I missing something?  Thanks for your thoughts