I'm not a farmer, but thinking about buying a pig.

[DJ Cummins]

so ive done a couple drive-byes. (The lgeal kind with no weapons involved).  I've talked to the listing agent.  I've looked at pics online (of the house of course).  This place needs a ton of work.  Its a foreclosure.  It had a bad mold issue.  50% of the demo has been done.  It needs everything.   Blank canvas inside.  Needs roof, siding, driveway, etc. My plan has been to buy and hold but this could be the perfect flip.  Bank wants around 50k.  Property fixed up could be worth 125-140ish. So if I like it what type of offer should I make?  Ive never made an offer on a bank owned fforeclosure.   I would have to get the price down...but how much can I offer without the bank saying take a hike?  How hard is mold removal if the inspection says there is still an issue?  any thoughts and opinions are appreciated.  A lot of the rehab work I can do myself, fyi.  This will still probably need at least 40k to rehab. Could be much more if the mold is still an issue.  Just looking for some opinions before my walk thru

[Mike M.]

With the work you outline and ARV you list, $50K won't get it done. The only saving grace to me would be if other major mechanicals are in good shape - HVAC, electrical, structural. Even then, rehab is expensive and you'll find discovery behind the demo yet to be done. Don't forget to account for the potential ARV hit with buyers when you disclose conditions like mold. Best of luck!