Advice on structuring a deal

[Steven E.]

I recently came across 3 properties offered by an attorney as an estate sale. Property 1 consist of 2 3br/2ba with a tax value of $74,500 with an asking price of $40,000 each but will do $70,000 for both. The next property is a 2br/1ba brick home with a  tax value of $89,000 and asking price of $41,000. I would like to keep as rentals

Questions:

1. How important is the tax value in comparison to the asking price and market value? Should it be an indicator of how much the property is worth and how much to offer?  How should it be viewed when considering investments? 

2.  What would be a good way to financially structure the deals to keep them as rental units or flip them?

Thank you in advance for your advice.