MPP well below asking price? Should I make an offer anyway?

[David Robertson]

Do you typically make offers on houses where the MPP is well below asking or do you not waste your time?

The house is listed at $48k, but needs $35k in rehab with a potential resale at $100k. I calculated the maximum purchase price at ~$35k with a $15,000 profit. I guess I'm curious, with the MPP 25% below asking do you think it is worth making an offer? What is your stance or strategy on houses that the MPP is well below asking?

Do you typically just make an offer and see if it gets accepted? It seems like you can make money on any potential rehab as long as you buy it at the right price. You will never know unless you ask?

Thoughts?