What offer to make on property

[John Wenhold]

So I'm looking into purchasing a loft condo.  There are multiple units available, but I think if I do purchase I will be purchasing one that is approximately $300k.  My question is, what offer price should I give them?  I do not plan on just offering their full asking price.  

Here is the situation...

This is located in what I would say is an up and coming area.  Previously run down and now over the past 5-10 years has been getting built back up.  Has some good touristy stuff

There are approximately 50 loft condos available in this building.  The building was recently completely redone and they listed these condos for sale a few months ago.  They have currently sold around 10 of the units.  

Now as far as if their offering price is a good deal or not... My plan is to use it as an AirBnB rental and based on my research I will make a good profit as an AirBnB. That is why I am considering purchasing it.  But just with uncertainty of short term rental markets, I would want it to be a good deal no matter what type of strategy I employ (short term rental, long term rental).

How can I determine the correct value of the property?  I don't really see other loft condo's in the area that are available for sale.  Is there a way to access previously purchased property prices in the area?  There probably is not a whole lot to compare with.

Also, is selling 10 out of 50 in a few months put the owner's in sell sell sell mode, possibly making them take lower offers? Or is their current rate of sale pretty typical and they would likely hold at their current prices?

Thanks for the help.