Need help analyzing flip to rent deal

[John Vo]

Hey BP! I'm a new investor would like to ask your help to analyze a BRRRR deal for a single family house. I have not seen the property yet, as this is a wholesale deal that was just sent to me, but I am familiar with the area. Here's the info and what I've got so far in my analysis:

- 3 bed/ 2 bath SFH

- 1862 SQFT

-1.5 Stories building

-Year build: 1980

Asking Price: $117,000

Comps: 12 months, 1.5 miles, 1.0 miles, .5 miles and within subdivision suggest price range of $165K-$170K

Rental Comps: 12 months 1.5 miles and 6 months 1.5 miles suggest price range of $1350-$1500/ month

Estimated repairs: From seller disclosure there's foundation issue, plumbing, electrical, ceiling, doors and general update in the house. I estimate repairs to be $30K - $35K based on pictures, seller disclosure, and what I would do to update the property to get it rent ready.

Estimated closing and finance cost with allowance for 3 months of rehab is approximately $9000.

My strategy is to use hard money to pay for the property and rehab it. When the rehab is done, I intend to rent it out and then refinance the property to move on to the next deal. What are your thoughts? Is this a good deal for the BRRRR strategy?