The property will rent at $1250/month conservatively + utilities. 

@Russell Brazil thanks, I'm probably naturally a bit more conservative that many, so I try to think about different risk factors. 

With a conservative estimation of $800/side it would have me cash flowing approx $600/month or $7,200/year making my COC, 16%.In order to fund this deal I would have to liquidate some of my stock portfolio.

It all looks pretty conservative.

Your vacancy also looks a little low to remain conservative.

Taking conservatively, $13 per person per night and 50% occupancy, indicates a potential of $3,900 per month, gross.

For a first property and trying to play it fairly conservative I think we've got a good deal here.

Just look at the 50% Rule Cash Flow to see what could be.The bottom line is stay conservative with your analysis and try to keep to your criteria.  

I understand I might not get that lucky but unless the house is in the worst neighborhood ever should I concentrate on the right flip for me and not worry if it's not located in my target zip code OK Christi great question.. and here is going to be your challenge.. how are you going to source this cosmetic flip.. wholesalers ( rampant in those markets) or off of MLS or are you going to direct mail or drive for dollars.. or get on a site like auction.com or go to the sheriffs sale. ( which will require cash up front then refi through DHM) I think your challenge will be finding something that only needs cosmetics at a LTV that DHM will actually fund 100%  is suspect they use their own appraisals or valuations and if I was them I would be uber conservative.. out of area lenders are usually very conservative on values. 

If something were to generate more power than it uses, we would need to completely redefine the laws of physics applying to the conservation of mass and energy.