Cash offer on rental or flip

[Haley London]

Brand new investor!

I have cash to invest and found a house

that is bank owned and is in nice shape

except the cosmetic paint, possible bathroom

update, and the big expense a new roof.

It is a small bungalow 2/1 but everything seems

good (yes I would get inspection!).

QUESTION:  If I am making a cash offer is 

it ridiculous to offer a few thousand over

what the bank got it back for and start low?

I have the money to do the repairs and hold it,

but now I am just wondering if I should flip it.

I do have to wait 90 days.   I would be offering

$80,000 and based on comps that I see I could

probably sell it for $110,000 or $115,000

Rent would probably be about 900-1100

per month before ins, property taxes.

I am still learning all of this and 

I appreciate anyones advice!