Run from or Run to?

[Johnathan Osborne]

I have never flipped a property but have been driving for dollars and I have found this potential flip.  My short term goals are to flip with long term buy and hold.  Here is a potential deal and would like some advice on rehab cost. 

ARV I think would be in the 200k range. House was built in 60s seem to be structurally sound but needs lots of cosmetic/updates. I think I could buy for around 90k. Here are a few pictures. 3/2, 1850 sq feet, well and septic. Water and power were on did not see any plumbing issues, foundation, or roofing( in attic) issues. It will need total kitchen, flooring, landscaping, garage doors, maybe new vinyl siding etc.

[Hattie Dizmond]

First, I have no idea what you mean by, "My short term goals are to flip with long term buy and hold."  You can flip. Or, you can buy and hold. You can even go hybrid and buy & hold with a 5 year or so exit plan, which is generally an appreciation play. However, you can't flip with long term buy and hold. That doesn't even make sense. 

Second, you can't "think" the ARV is "around" anything. Being able to accurately assess the ARV is the life blood of a flipper and wholesaler. If you aren't sure, get help from a trusted realtor or don't do the deal. And, no one can truly comment on the deal without a rehab $ estimate. You need to figure out what level of finishes are expected in the area and estimate the rehab based upon those expectations. If you don't know how to estimate rehab costs, read J Scott's the Book on Estimating Rehab Costs, available right here on BP.

Now, if the ARV actually is $200k, and you can purchase it for $90k, then you would have $50k you could put into rehabs. But, that's a lot of assumptions.