Possible wholesale deal. HELP!!

[Tiffany Cunningham]

Hello everyone

This would potentially be my first deal so im a bit nervous as to how to proceed or where to move forward.  I've found a property, 1900 sq ft 5br 2.5 ba. It is in foreclosure and im waiting for a response from the bank's representation.  Its needs a full renovation from top to bottom.  

I'm a little shaky on the comps though.  The house next door is worth about 320k, a couple houses down is a 6br 3ba and says its worth about 700k. As is condition says the house i'm looking at is worth $209k and is selling for $99,000.  

I need you guys' advice.  Is this a gem?  Should i really push and see where this can take me?  I live in NYC so i'd love to partner up with some people and make things happen.