quick analysis for a cash deal, making offer in 1 hour

[Mark Updegraff]

Hey you bunch of insightful RE kingpins!
Newb here again, just giving a quick run down for a thumbs up or thumbs down on a SFR I'm about to pull the trigger on:
Former Rental, on the market at 40k, current tenant caused a kitchen fire, now it is vacant and the price is 20K, got a verbal from the listing agent they will take 18K cash. No other offers on the table, but some dude was starting rehab on the house when I went to look at it... he hasn't even made an offer... weird... anyway, we kicked him out to look at it, called the listing agent and said WTF!!

OK OK I digress.
Guessing the rents on the house will be $775/mo + all utils.
Also guessing that rehab costs will be ~10k & closing costs about ~2k
so I would be in for 30K. Would plan to refi back out at 80%LTV after rehab. Guessing rehab would take 2 months. Quick close would get me student tenants, perfect timing.
Here is what it needs for my 10k estimate:
Roof repair (spot where kitchen fire was, also saw another are. Looks OK from outside, but needs some attention in spots.
Furnace needs a cleaning at minimum, power / services are off, so not sure if it is working.
Needs all new floors (carpet)
Needs Paint Sprayed EVERYWHERE
Kitchen / Bath need Gutted
Electical fixtures need replaced.
Exterior OK, maybe clean up, fix basement door, add privacy fence.
Paying out 3K in labor.

Sound Good?
Thanks!!
Mark