That is using 1/2 on fist step. 3/8 on second step. 1/4 on third step so that the maximum difference in risers is no more than 3/8".  

I'd prefer to see your all-in cost to be no more than 70% of its ARV (ie. $63k in this case).Are you SURE you'll be able to get an 80% refi, on a sure ARV of $90k, to pay out your HML?

I have a real estate license but do not actively list (no more retail for me)!

The total rehab needs no more than 40k (interior needs lots of work, kitchen and 2 bathrooms will be full gut, the rest is cosmetic with some drywall replacement) to really make it shine and stand out from competition.The asking price is $87,000.  

At this stage, you DON'T have enough equity to be ready to do the Refi part of the BRRRR strategy, but hopefully your own income will allow you to SAVE for a 3.5% deposit for an FHA-approved Loan for your NEXT primary.The difference is, you're NOW more knowledgeable about what it takes to be able to Refi all your deposit back again for NEXT time (eg. if your next one also appraises at $70k, you need to have no more into it than $49k (70%), including your deposit. ie.

The three outcomes I look at first are: Cost; ARV; and ROI.Number one rule for me: I want to see MY Cost to be no more than 70% of ARV.

We are thinking we should offer no more than $158-160 per sqft for the building because we are taking in to account the time and $100,000 needed to bring the building to safe and working condition. 

Conventional bank refinance will work, IF you got it for a sufficient discount ie. you've paid (all-in) no more than 70% of THEIR appraisal after rehab.

Here's my problem:According to my calculations and accounting for repair costs, I would need to purchase the property for no more than $60,000.

One of my partners there he was raised there as a kid it was all owner occ.. but no more. and for the record my first two years of lending in Sojac were to flipper selling retail.. turn key was not invented yet or was brand new.My closing attorney who I have used all these years at Giddens and Giddens had an office right smack dad in the middle of that area .