As a REI would you accept the offer?

[Account Closed]

Greetings everyone, My wife and I are Realtors and spent the day driving around looking for potential homes to flip. We came upon a house that is for sale on the MLS for over $200k and is in an area where comps have sold between $240k-$250k. I was not in the least impressed when browsing through the pics of the nearest comps that sold. They were not remodeled and sold for those amounts. This home is owned by an investor and has been on the market for 160 days. The home needs a major rehab including roof, soffit, bathrooms, kitchen, flooring, drywall, painting, A/C, water heater, most likely electrical and plumbing. The Windows seemed like they may have been updated at one point, but most likely they would need to be updated if the rest of the home is getting fully rehabbed. I’m sure a plethora of other things after an inspection. $75,000+ rehab cost Do you believe an investor will just sit on this property and not consider a realistic offer? Cash purchase. Built 1972 1600+sqft 3/2 2 car garage Lake front property There is large “Florida room” with a fireplace. I will do my best to answer any questions you have and thank you ahead of time for the input.