How to figure out how much to offer, with major repairs needed?

[Carrie Smith]

Hi All -- 

I'm in a situation where a house went on the market for 145k.  I was under contract at 141k.  There are 12k in repairs needed which includes a major repair of 7k for the remediation and fixing of a water issue in the crawl space.  What would be the max amount you'd offer on this type of property? What is your formula? This is not a fix and flip situation.  This is a buy and hold, and these repairs are all necessary and not cosmetic.

Thanks for your input!

C