Determining Short Sale Offer Price

[Jason Shan]

Hi everyone!

First time buyer here looking to capitalize on a short sale.  They say I can't go look at the house but that my offer is subject to inspection (so I can back out if I see something I don't like I guess?)  

I have an opportunity to get a house for well below market value, but not sure the strategy on how to put in an offer; don't want to go too high but don't want to go too low and lose the bid either.  

Also wanted to see if there were any contingencies or things I should include in my offer such as when tenants need to move out, relocation fee, what happens if I find liens on the property, etc?  Any input would be greatly appreciated. 

Any other questions or preparations I should have that the community thinks is essential? 

Thanks so much!