As is, cash only, no viewing, REO

[Ronald A. DeJean III]

Hello new and hoping I'm in the right spot. While searching my area for potential deals I found a 2 br 1 bath brick home 880 sq ft REO. No viewings allowed, cash only and the property is currently occupied by the foreclosed former owner. Houses in the area go for about 90-95 a sf so the house so about 79k I was thinking of a 15k offer. Is this a pipe dream. Is there a formula for situations