newbie looking for help analyzing numbers

[Jon Christian]

There's a home near me for sale off market. Asking price is $85k. Repairs needed are $40k. Comps suggest the house would sell for $165k conservatively in a very hot neighborhood of the city. Some of the homes nearby are going for $200k. It's a 2 bed 1 bath single family house.

At first glance using the 70% rule, the purchase price should be around $75k. However, the home has had a few offers of at least asking price of $85k. What are those investors seeing that I am not? What metrics are they probably looking at? Would this be a purchase you would consider at 85K?