First deal - do these #s make sense for BRRR?

[Brian Dickerson]

Working on our first deal and would love some input. Originally was looking for close to turnkey buy & holds but it's not going to work for our criteria in the market we're focused on. Trying to learn more about BRRR. Came across this bank owned property..brought a reputable contractor out for estimates, and these are the #s we have. I know for flips, 70% of arv minus rehab cost is a good goal as a purchase price, but how about for BRRR? Is this worth it?? An additional concern is having all that cash tied up for 6+ months. Are there lenders who wont make you wait 6mo to refi based on the ARV?

24k purchase price

32k in rehab

ARV = $70k conservatively

Rent after rehab = $800/mo

CoC ROI = 12.5%

Thanks for any input guys.