In a Situation and Would Love Some Advice

[Sean McGrady]

Hi everyone! I am in a unique situation and would like some advice. I currently go to UMD and rent a place close to the school. My landlord is currently on the verge of going into foreclosure giving me the bright idea to see if he will unload the property to me before it gets taken by the bank and sold @ auction. Right now I am paying 3,000 for rent a month (5 bedrooms).  After looking at comps I believe it is right around 400k, but was going to try and get a lower price due to him needing to get rid of it.  I know it is a desirable area for students due to the location and need for housing. I currently have no rentals so running numbers is very new to me. I have been using Youtube as my resource, but due to me not running numbers that many times I am not too confident knowing that I am correct. Is there anyone that is familiar with the area that would be open to chatting? Or just giving me advice in general? Would love any input!