Yes,I am positive on purchase price + repair which is 180k.I didn't value it at  220k.Below is my plan take 20% loan on Property cost=120K  & spend remaining 30K from pocket so basically i am putting 60K towards the property & getting 205 back I dont know if it is a good investment or terrible investment

From my research, a lot of investors spend renovation money in such a strategic way that all their money of reno's is back with them in 24 months (Example below).

If you had a $3K per month marketing budget, how would you spend it to create a consistent stream of motivated seller leads month after month? 

They tell you nothing since you can't spend or save them. 

In Portland spending 30-60 would be reasonable for a trashed property but you could spend 200k if the area allows a total in of 200 plus the purchase price. 

Also, I bought mine furnished and depending on where yours is located and what sort of demographic you want booking it (budget conscious, luxury, local emphasis, etc.) will have a huge impact on how you much you should plan to spend on furnishings and decor. 

Spend $10,000 in interest, get $2500 back. 

Plan to spend $350k over the next 2 years adding a new office, adding amenities and adding water meters to each unit.

If you like to self learn you don't need to spend much if anything. 

In truth I bet the cash flow is better outside the city, because I spend far less on turning a unit than those in town do, I suspect.