Potential first deal isn't a homerun, but should get me on base!

[Randy Frederick]

Hey BPers!! Could use some help analyzing what I hope may be my first deal. I live in Richmond, Virginia and the property is as follows: SFR 4BR 1BA 1,355 sq ft On 0.9 acre B neighborhood with good schools in suburbs of Richmond; property abuts a park Wholesaler asking $118,000 Needs $20,000 of rehab ARV $165,000 Expected rent $1,400 Assuming hard money loan $100,000 (wholesaler wants to close asap) and put in $41,000 for money down, closing costs, rehab: Should cash flow $211 a month (assuming Brandon's standard cost calculator assumptions for vacancy, property management, capex, insurance, repairs, etc) Cash on cash: 6% Now...the intangible is, I think the lot can be split and a second property can be put on the land. Or, alternatively, it is enough to accommodate a smaller multifamily property in the future. I know it's not a homerun, but maybe a single or a double? Certainly has the potential for hidden equity and would rather do a decent deal than continue waiting and waiting for a knockout deal. Let me know what you think? How would you proceed?