Making an offer for a short sale

[Mary R.]

A house I want to buy to hold is listed in the mls at $130K. It was recently under contract via short sale, indicated by the listing designation. “Short sale†is not in the description. That offer fell apart, and it is now active again. I want to make a short sale offer on it

According to property managers, which I would use, it will rent at $775-850 per month. I haven’t seen inside yet. The exterior shows its age and may need a little work other than cleanup and a little landscaping. The description says it’s in good condition. It’s been empty for 6-8 months. In the last 6 months, nearby houses sold from 85 to 125K, but don’t know if they’re similar size.

Based on what I read in other sections, in order to make any profit on this, the most I should pay would be about $40,000, and that a first offer should be much lower.

How realistic is it that I would get it for anywhere near that 40K? If that’s the cost, I can pay cash.

How should I approach this? I don’t have the knowledge or skill to negotiate with the lender, and don’t know if that is an option since it is on the mls.

I have a contract I can fill in and present to the lister, but will he even consider it? Will he respond with anything other than guffaws or contempt? What incentive does the he have to sell at such a low amount since his commission is based on the sale price?
TIA
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