"Possible short sale" and determining my 1st offer

[Jaron Walling]

Hello BP! Looking for advice to determine an offer on a property . It's 3/2 with a 2 car garage. It's 2300 sqft with a finished basement. Listed price is near $100k. The property needs major upgrading and remodeling. My strategy would be a live-in flip. The listing mentions the possibility of a short sale if the seller doesn't get any good offers. 

Should I wait this one out or make a realistic low offer and see what happens? 

The agent is pressuring me to get contractor estimates. I'm in no hurry to make a financial mistake on a flip gone wrong.