please help

[Tyler Thrush]

Hi All

I am currently looking at a sfr in manslfield texas that is an reo property. The property currently needs a roof repair that has been quoted at 5000-7600 and the current list price is 174000 and rental rates are right around 1700-1800. Comps are selling right around 170000 but this property has been on the market for 150 days. That being the case here is my reasoning based off of my knowledge and the knowledge that i have gained from biggerpockets.

174000*.65 = 113000 - 76000 =$105500

My question is this ... The most I should offer would be 105500? That being the case should i start lower than that?

thanks