Looking at my first potential investment property

[Steven Fiscus]

I have a great potential first investment property that has not hit the market. I've recently joined a local REI group here in Omaha, Ne. I've gathered a lot of good info from that great group of people, but looking to hear out anyone else who doesn't mind sharing some of their time and experience with me!

Any input on what I should and/or should NOT do, things I should look for, reasons why I should walk away, etc. would be greatly appreciated!

Some information on the property:

- About 1000sq/ft, 2bed, 1.5 bath, attached 2 car garage

- Owner is going to want to sell quickly

- I know the owner owes roughly $66,000

- Similar homes close by have recently sold between $120,000 - $180,000

- My thought is this house would be worth around $160,000 with roughly $20,000 - $30,000 worth of upgrades.

- Home is in a sought out neighborhood

With this information, what is the most I should offer for the home?

I appreciate anyone who takes the time to read and give any input on this situation!