Yearly net cashflow after absolutely all costs and a margin of safety should be between $15,000 - $20,000.Lessons learned?

Is there a way to accurately evaluate the repair cost of this kind of issue? 

Quote from @Ty Loney: Curious if this would still be applicable with todays rates Yes, there is still a lot of seller financing going on: https://noteinvestor.com/notes-101/seller-financing-2022/ (not sure if sharing links is allowed, but it's not my website)

@Joseph Stammeyer, the program costs just under $10k and they will fund all of your fix & flip deals, including the rehab.

I have considered creating my own Property Management LLC to do the work above and hiring my dad as an employee, however, I was told this would provide no benefit in terms of liability and it would just add costs and more taxes.I would appreciate your feedback.

You need to find a deal that works under beginner terms.Hard Money/Private Money works when the deal is good and when margins are thin it can be costly that's why sticking to max project cost being less than 72.5% ARV is key.  

A PM can cost you 10-15% per year but they can also keep you at market rate and protect you from losses.

Partner Driven financed the Faith Home Rd deal using its own capital, covering the $22,000 purchase price and $30,000 in renovation costs.

With my down payment, closing costs, and renovations, I will have put down around 70k (down payment and renovations).

if you own the land free and clear there are options for financing with no upfront cost with closing costs and initial draw coming from the land