[Calc Review] Help me analyze this deal in Chicago

[Derek Rubinstein]

Hi Everybody,

This is my first post and I need some help please. I am a little confused still on the BRRR method. I have found a property that I believe may be a good deal but am trying to figure out how to pay off the original lender. I may have a private lender at 6% for a $430,000 loan. What confuses me is when I am ready to refinance does that mean I need to be able to refi for 75% to equal the $455,800 to pay off the original lender. If anybody reviews my report can you see where I went wrong?

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