REO Listings? Good or bad idea?

[Adam Marx]

This question comes from me finding a property that seems to be in decent condition for this type of property however it will need alot of work including a second bathroom if I were going to be able to sell it as current 3/2 prices. This would be required to make the numbers work imo. However I have never even approached a REO property. I guess the real question is this something I should just stay away from in general? I feel like if a bank has bought a property then they aren't going to be as open as a homeowner would be in selling the home for less than the asking price. At least, this is what I have seen the number of times I have been to an actual auction. So the question is more in the general sense or if someone has any experience in the particular arena could you provide some insight on providing an offer to the bank? If this question is not in the correct place I do apologize. Still new to the website! Thank you.