Advice on first deal

[Joe Scrofani]

After analyzing a bunch of deals, I think we finally found one that might work. Ready to make an offer but wanted to post here first to get any opinions/advice. We are in Orlando, FL

Purchase Price $280,000 (single family home)

Purchase closing costs $9,000

Estimated repairs $5000

Total project cost $294,000

After repair value $350,000

Down payment $56,000

Loan amount $224,000 (no points)

30 yr fixed at 4.0% (estimated rate)

Monthly P & I $1069.41

Total cash needed $70,500

Total operating expenses $741

Mortgage expenses $1069.41

Vacancy $66

CapEx $110

Insurance $95

Property Taxes $250

Repairs $110

HOA $110

P & I $1,069.41