What Do You All Think?

[Jordan L.]

Found an REO SFR listed at 75k. Two other offers "close to list" at two days on the market. The listing agent is calling for highest and best today. I'm looking for a buy and hold rental with healthy ROI and cash flow. Technically I am going in with cash but am using the 50% rule as a guideline. ARV is conservatively about 95k to 100k, repairs are about 10k, maybe 5k if I do the easy stuff myself. Property taxes are about $575/yr. It should rent for about $900/mo.

What do you guys think? Pass on it or offer "close to list?" What would your offer be?

All this comes with the disclaimer that I've been shopping for 3 months and have put in about 20 lowball offers. I haven't even gotten a counter yet and am getting frustrated.

Thank you all!