I would need to know more specs on the house but with material shortages It's difficult to say how much to budget. 80K-120K for full gut perhaps but unsure with lumber beings so expensive and shortages.I would plan 9 months of vacancy between the pain you will endure pulling permits & having your contractors show up everyday to complete the work & then final inspections to get a CO. 

It’s a market where cash flow is achievable without needing a massive upfront investment.

It is a very competitive market and units in the tens of thousands.

Hello Camille,Wholesaling is a sales and marketing business.

Explore off-market deals where competition might be less intense.Don’t get discouraged—success in these markets often comes from building strong connections and thinking creatively about deal sourcing!

Do you have a team built in any other markets?

Ive invested in the Boston & DC markets for 22 years now.

I met with fellow investors & agents in these markets. 

I would absolutely counter with a price closer to market and see how they respond.

If we can complete projects faster, we increase IRR and build trust.3) Market Risk- The longer it takes to complete a project, the more exposed you are to market fluctuations.This goes for all things Real Estate - BRRRRs, Flips, New Builds, Rehabs, etc.Real Estate is a wild ride I feel your pain, I've had this happen many times where the project is twice as long.