Wholesaler Asking For 5k EMD Non Refundable

[Kirk Zacharda]

I was sent a wholesale deal via a wholesaler in San Diego. The wholesaler was asking 339k with 5k EMD not refundable and he said the ARV was 427k. The rehab alone would be 59k or more. I can see it needs a new roof and fascia just by the pics. Knowing this, is it insulting to make a reasonable offer of 270k and let him know he is way off or would it be best to just say no thank you.