Is this a good deal? and how to estimate a complete gut/remodel

[Brady Pasemann]

Hello Everyone,

I am looking to see if this is a good deal and how much a full rehab would cost for that size of house.  Assume some foundation, electrical, plumbing included.  Maybe tearing off carport and redoing.

I came across an old 2/1 house that needs a complete remodel & gut.  I don't know if it's a good deal, seems to be, but would like some professional advice.  I have not purchased an investment property yet and have some knowledge of construction, but not to this level.  This is in San Marcos, Tx...a very strong market currently and hard to find any deals.  I'm looking for properties with good cash flow $3-500 range.   If paying cash (which I have), it seems to cashflow well, but costing me about 80-90K.  If I take out 50K loan/30yr cash flows OK.  If I take out 80K loan/30yr about breaks even, make a little if I manage.  If I sell, maybe make 10-15K.

Pics & Details here:  https://drive.google.com/drive/folders/0B1X_mx6jt3...

Basics

2BR/1BA - Could add a bath with the remodel, but not really add an extra room, unless you added to back of carport, like it is.

854 sqft

built in 1951

no garage, but carport/room which probably needs to be torn off and redone.

asking $65,000...but would offer 30-40K

ARV should be around 100-120K

Class C type neighborhood

any advice would be appreciated.

thank you

brady pasemann

[Brady Pasemann]

Thank you @Jody Schnurrenberger I've heard that many times about not doing the estimate, before just asking. I tried to do as much as I could before asking any questions. It seems to only cashflow good if I pay everything in cash, but then the ROI is low.