First time investor [Calc Review] Help me analyze this BRRRR

[Nicole Skorka]

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Would you do this deal?  This is a condo in the Denver metro area that needs full rehab. New kitchen, bathroom, flooring throughout, as well as cigarette smoke mitigation.  The rehab estimate is between $40-$45k.  Rental inventory in Lakewood is slim, so the demand it there, but market doesn't show any 2/1 units over $1900 currently.

My agent believes the ARV will be $325k. The plan is to cash-out refi and hold long term.