advice on making offer

[Nick Taskani]

I'm a newbie, wanted to get some advice from experienced folks on what offer to make.

I've done my analysis on a property, after looking at rental income and expenses, and cap rate of 8% that I'm looking for, I believe the property is worth $295K.    So would you recommend I put an offer for 295 or should I offer 275 and then negotiate up??   I don't want to lowball and turn off seller, but if I start at 295 I may end up paying over 300 after negotiations. 

How do you experienced folks determine where to start with your offers??

thanks in advance for any advice!