How to value a property that needs significant repairs

[Ben Rasche]

Hello,

I'm currently looking at an investment in 3 properties that all are in need of some fixes.  One of the properties is in need of foundational repairs.  I've gotten one estimate for 15k, and one for 10k.  The house also needs to be painted or have new siding put on, as well as having the windows replaced.  I was wondering how people figure what to offer knowing that there are significant costs that will be going into the property up front.  Thanks in advance for the feedback!