Would you buy this property? Need some advice!

[Karla Torres]

Good evening, I am a new investor. Currently own a rental property in Virginia Beach and renting the MIL suite at the home I live in.

My friend is going through a bitter divorce, they are desperate to sell their home ASAP and selling it for cheap. I think it would be a good property to buy, flip and sell. The problem I'm having is funding the deal, which makes me think it might not be worth it. This is why I need some advice from the BP forum :) Here is the breakdown.

Home is being sold for 550K Appraised for 662K Minor rehab of 10-15k ARV 720-730k

The comps in the neighborhood have sold from 695-860k and taken an average of 52 days to sell.

The hard money lenders I have contacted want me to put 20% down, pay about 3 points, and interest of 12% +.

I'm worried that since it's almost the end of the year, the house might take longer to sell. Also, I will have to get a  personal 40k loan to be able to pay the 20% down.

Thoughts? Is it worth it for me to do this? I would at least profit 30k if the home is sold in less than 6 months.

Thank you!