What are the must ask questions to come up with an accurate asking price?

[Reinier Napoles]

Greetings, 

Hope all is well.

I am a new RE investor. An opportunity has came about. A friend is moving away and is interested in entertaining my offer price.

I quickly set up an appointment to go see the house this coming day and I would like to be educated on the key questions that I need to ask him in order be well informed of the most critical aspects of the house to finally come to an offer price. 

Hope this message finds you all well. 

Blessings, 

[Ray Hage]

There's only one real important question. What is the general market of buyers willing to pay for this house? That is what most would consider to be the "fair" price. To get you to that prices, you'd want to know the age/condition of the AC units, electrical wiring and panel, roof and plumbing. Same goes with the fridge and Oven (though not as important). You also need to see if the house has been updated vs original (like does it have 1970s pink tiling in the bathroom). Finally, you could perform a CMA on it to see what a similar house would go for in that neighborhood.