Potential REO Deal

[Robert Burns]

I found what may be potentially a good REO property. I have never done an REO deal so I need some advice. This house is a SFR, 1300 sqft, 3/1 in relatively good condition needing mostly cosmetic upgrades ($5,000). The ARV is approximately $85,000 and the bank's starting price is $46,600. I've talked to the realtor assigned to this property. I was considering offering $30,000 and see what the bank will do. What do I do next?