Appraised Value vs. Market Value (Virginia Beach)

[Alexandria Arnold]

Hello! 

I have a question on appraised value vs market value. 

There is a duplex listed for 299k in Va Beach but the appraised value stated 230k. I am not sure why there is 70k in gap. This would be a private sale - no agents. Any advice on how to negotiate this difference to the seller? Seller holds lots of property in family LP - this being one of them. Recently renovated roof but inside needs a good bit of updating. Numbers work at 275k but I don't want to pay more than the home is worth. This would be my first investment property - house hack. Thinking of going for the FHA loan route or maybe home equity line. Thank you!!