Working a short sale

[Andrew Alexander]

here's the deal:

He owes 68k
He paid 65k in 2004

Current Market Value: $50-55k
ARV: $65k-70k
Repairs needed: $10k

I'm thinking of making my top offer with the lender $35k. That would leave me with a $20k profit, not counting closing costs, transfer tax, holding costs, etc. My plan is to use a conventional loan and moving in and rehabbing it then selling it after a few months.

What should my max offer be considering what I've said?