How low is too low to offer?

[Timothy Neafsey]

Have my eye on a 16 unit that has been hit with a death of owner and now illness of surviving spouse(at least that is what RE agent claims.)  Looking at possibly putting an offer in but from what I can tell( I am relying on pictures, apparently the tenants don't know it is for sale and I can only physically look at the outside??) it needs a lot of work.  Anyway getting to the question...This building is listed at 450k which is about 60k above appraisal imo and the counties. But I'm thinking it will probably need a full rehab on the interior.  Some of the appliances look original from 1963..lol  Is 100k or less too low to go? I am still waiting on the financials but I don't think they pull 6k/month in it's current shape. I am about 90% leaning towards just forgetting about the whole thing.