Working on my first deal

[Robbie Case]

Here are the details: Asking price=62,000 ARV=~85,000 Tax assessment value=88,000 Taxes=2,056 (last year) Repairs=10,000 The negotiations have come to a halt at 50,000. The seller is firm at this price. I'm looking to owner occupy this property while it is being fixed up and refinance out of the FHA loan as soon as it is seasoned. At that point I plan on renting it out. I just wanted to get a second opinion from my own.