Overall a super good episode; had a guy on named James Dainard who said (if I recall) that in this uncertain market he ensures that his deals have 20% more margin on purchase price before assessing flip profitability. 

You get to keep the margin on the interest and any points/fees you charge.

I am noticing margins are getting tighter and tighter from wholesalers for sure.

And congrats on your house hack, Flipping in is pretty hard rn tbh, with margins compressed and labor and materials through the roof.

We need a margin of safety in these deals that can account for these types of events.

The margins will get squeezed in the next few years as more money pours into the space, but it's still a great time to acquire amazing properties across the country with incredible cashflow. 

There is a lot of unforeseen issues that will likely drive your cost about your budget and drastically reduce your profit margin/equity in the property.BTW, I like your positive energy to get this done.Goodluck and update us on your progress. 

A smaller house sales market will push more people into rentals, which will drive those prices up and push the people on the margins out altogether.

If you do go forward and want to remodel I can suggest checking out Building Material Outlet  They used to have the best prices around, not sure if that is still the case but they beat Lowes and HDD by a large margin last time I did a big remodel.

Given all the risk you need a large margin to make up for unplanned rehab costs and I doubt you will get that in the current market.