Feedback on BRRRR analysis

[Khizar Hanif]

Hello all, 

I am currently looking into a BRRRR rental.

Single family home in Houston (Katy area) built in 1978. Flooded during Harvey, first time flood, professionally remediated. 

3bed/2bath/2 car garage

1,635 sq/ft

Asking price: $95,000

Estimated rehab: $35,000

ARV: $145,000

Cash purchase. 

-----2 reports attached. 

Report #1: Shows a negative cash flow of $44.18 (if property is purchased at the asking price of $95,000).

https://bp-v-newproduction.s3.amazonaws.com/upload...

Report #2: Shows a positive cash flow of $80.43 (if property is purchased at negotiated price of $71,250).

https://www.biggerpockets.com/calculators/shared/847958/505311ff-7b4b-44c3-a260-0d78cc2c2163

Both reports have Property Management included for future protection. 

In order to pull all my cash out of this deal with a 75% LTV refinance, the maximum I could purchase this property for would be $71,250. Assuming it does appraise at $145,000. I did take into consideration that the home was flooded and calculated my numbers with a 10% hit on ARV as opposed to pre-flood comps. In other words, the ARV pre-flood would have been ~$160,000.

I am not too concerned about cash flow, only to stay positive. My goal is to focus on loan pay down and not so much cash flow income as I already have a stable income. 

If you guys can provide some feedback I would appreciate it. This would be my first rental property using the BRRRR strategy so any information would be helpful. Thanks in advance!