Would you consider this a deal?

[Jonathan Newsome]

Hello BP, I'm hoping to get some advice on this property. What would you do? First off this property is currently in foreclosure status. So my first question would be - do people actually get foreclosed properties under contract and wholesale/wholetale off the MLS?

Ex: property listed for 75k, I offer the bank 55k they accept (through a realtor of course). If the property had an ARV of 180k and say 15k in repairs, would this be considered a deal IF there are no encumbrances or liens on the property, it was in an area/neighborhood that would follow the 1% rule and had positive cashflow after expenses?