Thoughts on this flip

[Daniel Ferster]

Hey everyone I just got a property under contract and was looking for some feedback as I approach inspections next week. This is a 2/1.5 1728 Sqft that I plan to convert to a 3/2.5 using the existing Sqft. The inside is a total rehab floors, paint, windows, hvac (adding duct work), new baths, new roof, adding a front porch, etc. I have the property under contract for 60,000 and my ARV is 200,000. I'm thinking the work will run 50,000-60,000 and am going to meet contractors now for bids. I am using private financing where the lender will lend me 65% or ARV (130,000) with no monthly payments and charging 12% after 6 months (15,600). This property also sits on 3.3 acres which is a catch 21. Some people love the country, but I'm worried when I list it about holding cost due to less visibility being deep in the country. Any thoughts, comments, red flags would be appreciated. Just trying to get a sense of what the BP community thinks when they see those numbers.