Getting a foreclosure, bank owned single family, with an FHA 203k loan

[Nadia Chase]

Hello! we have being looking to get in our first deal for a while now, and we just found a potential deal, it is a foreclosure, bank owned for $60 000, estimating the ARV with 4 comps we have 97 000$ After the two years we would sale it. A rough estimate of rehab would be around $10 000. The plan is to move in for 2 years in order to avoid to pay capital gain taxes, and rehab it while we are there. My questions are:

1-How would moving in affect the holding costs in this particular case, should I even consider those, when I am gonna be living there until it sales? 

2- Is it a good idea to include contingencies in the offer when working with bank owned properties? if yes, Which ones?

3- We are thinking to offer around $50 000 to $55 000, is that to much? to little? 

Any advice would be greatly appreciated 

Thank you