Need help with potential BRRR - First investment

[Shane Correll]

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Hey BP ,

I wanted some input on this deal. The properties in Baltimore County and the current owner owns it free and clear. I got a tip the other day that the owner is looking to sell the property because she has a bad tenate and just wants out. She owns the property free and clear and is looking for 100 k for the house. I ran the numbers and the property ARV is roughly 150 k and it should rent for 1400-1500. This would be my first deal and I was hoping to get some feed back. My goal is this: I would like to negotiate with the seller for a deeper discount giving the troubling tenate and some rehab that might be needed. I would like to get her to 85-90k. I don’t have the ability to pay in cash so I plan on using hard money to close the deal, I will put up the money for the rehab (estimate 10-15k). I would evict the bad tenate, rehab (less then 1 month), get it rented and then use delayed financing to get a traditional mortgage on the property.. At 70% -75%I could pull out about 105k enough to cover the hard money, any loan fee and some rehab cost potentially. I realize HML typical only do short term loans of 6-12 moths but I feel this is easily accomplished within a 6 month period. Based on my number the deal looks promising. I am however scared to screw it up this being my potential first deal ever. I have include 8% for a PM but I am sure this is a task I could handle myself (and might want the experience). 

Any feee back would be greatly appreciated. Also any other recommendations such has seller financing or maybe even lease option. 

Thanks BP looking forward to any feedback. 

Disclaimer I am not 100% on the number with this deal, and I also would plan on the tenant paying utilities but I am not sure if that is typically in my area. If the tenant doesn’t pay utilities that could impact my cash flow significantly.