What offer to make?

[Michael Mullins]

I've always told people that I purchase houses on the side. So today a co-workers friends mother called me to sell me her sons house here in Austin TX. Yes I know, I know. His mother. How cute. I asked to talk to the son, but she stated he was living over seas and no longer wanted the rental property. So I couldn't talk to him. However, I talked to the co-worker and he was able to state he knows them personally and the son just got married and moved over seas. 

So my hair is up on the back of my neck but I'm moving forward. I was able to get his email address and the address of the property. It's a duplex near the domain here in Austin TX. it's worth about $225,000 and rents for $1,400. From the outside it looks nice, however, after asking multi times I wasn't able to get the mother that lives in CA to tell the renters to let me in. 

I know I'm missing some information you most likely need, sorry.

But how much would you bid on the house for? Would you bid high just to get your foot in the door and then start off lowering the price.