BRRRR Tax Lien Deal Analysis Feedback Wanted

[Peter Rowell]

Hi Everyone!

My wife and I are closing in on a year of our house hack in Albany, and are looking to expand across the river with a BRRRR tax lien deal in Troy. I've been running some numbers and lining up financing through personal lines of credit and 0% credit cards, but would love to get some feedback on potential rehab costs as this is not my area of expertise.

The property is a 3 unit which I am bidding on through the city of Troy's tax lien foreclosure program. The scariest part and biggest unknown is that I cannot see the property beforehand and because of this, I am factoring in all possible costs for the rehab. The numbers include hiring out any plumbing, electrical, roofing, or window repairs and doing the remainder of work myself. 

The quick and dirty stats are as follows:

Overall Numbers

Bid Price - $25,000

Estimated ARV - $160,000

70% of ARV - $112,000

Rehab Costs - $99,900

Total Investment - $124,900

Obviously, the numbers indicate I would be leaving some of my money in the deal, but this is worst case scenario. 

Rehab Costs

My biggest concern is being way off on the estimates. I know the odds of getting an estimate right on are slim (especially for someone like me with limited rehab experience) but I would appreciate anyone who could give an opinion on the below estimates and see if they are in the ballpark.

For context, the building is a 3 story 3 unit built in 1894 and approximately 4300 SQFT.

Area	Rate	Unit	Number of Units	Total Estimate
Overall	0
Heating	$6,000	Per System	3	$18,000
Plumbing	$10,000	1	$10,000
Electrical	$10,000	1	$10,000
Drywall	$1.00	Wall SQFT	4000	$4,000.00
Demo	$1	SQFT	4000	$4,000
Paint	$0.30	Wall SQFT	8000	$2,400.00
Roof	$6	SQFT	1500	$9,000
Floor	$3	SQFT	3500	$8,750
Hot water	$1,000	Per System	3	$3,000
Windows	$300	Per Window	20	$6,000
Kitchen
Stove	$500	Each	3	$1,500
Dishwasher	$500	Each	3	$1,500
Fridge	$800	Each	3	$2,400
Sink	$200	Each	3	$600
Countertop	$1,000	Each	3	$3,000
Cabinets	$2,000	Each Kitchen	3	$6,000
Tile Floor	$500	Each Kitchen	3	$1,500
Bathroom
Toilets	$200	Each	3	$600
Vanity	$250	Each	3	$750
Tub	$300	Each	3	$900
Shower Tile	$500	Each	3	$1,500
Floor Tile	$500	Each	3	$1,500
Other
Washer/Dryer	$1,000	Combo	3	$3,000
Total Rehab	$99,900.00

Any advice would be greatly appreciated! I would much rather have my plan ripped to shreds now that 5 months from now while I am in the middle of a rehab.