Very green, looking at wholesaling a house in pre foreclosure

[Renee Peter]

Hello!

I am so very new, making offers is still a bit scary. I do however already have a couple of investor contacts that are ready and willing to buy contacts from me, given the numbers are good.

I found a seller, duplex is in preforeclosure. It was listed recently FSBO for $150k, then taken off the market soon after. Tax assessment is $276k. I don't have contacts yet in the contracting world to get a quote for rehab, but it seems that there is plenty of room for those costs, the end buyer's 20% minimum, and my $10k. It can be rented as is, with your normal turn over repair costs... If it were to be rehabbed, looking at area comps, the area would support a much high sell price. ($350-$400k) Would you offer lower than the $150k?

Obviously learning... just need to look at real life deals to get a better picture of how this should all go down. 

Thanks!!