House been on market for awhile, how low can I go?

[Peter K.]

I'm looking at a SFR that has been on the market exactly 162 days (5.5 months) as of today. It has a tenant in it and I will be purchasing as a rental property (investment). My question is- the asking price is at 74K but my realtor told me a -10% offer which is (66.6K) is low balling it and most likely won't be accepted in a seller's market. I was thinking of putting in an offer for 68K (which is about -8% off asking price). How likely will my offer be accepted and should I bid lower or higher? It's hard to believe that a cash-flow property such as this is not selling in this market- any thoughts?