Expired MLS Listings

[John Romero]

What does it mean when a listing on the MLS expires? I looked at a vacant single family home and really liked it. Thought it had some potential.

I emailed the realtor I have been working with and she informed me that the property has expired. How can we go about submitting an offer on this property? It would be great to get it below market, and I wouldn't mind having a realtor along with me if she's able to do some leg work to make the deal happen.

Any thoughts?

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It's a single family 4 bedroom, 2 bath near a college town. Listed at 199k, and is now expired. Could invest 10k for a rehab and rent out for approx $3000/month on a 10 month lease.

Mortgage would be about $1500/month.