Need opinions, dont want to insult seller

[Ronald Cook]

let me run this property by the more experienced folks... ive been involved with real estate for many years but never with a deal like this...

Location: akron ohio, in a upcoming neighborhood

Property: 2/1 bungalow 1362 sq ft. Built in 1922 1 car garage 

Asking price: 16,900.00

Last sold for: 3,500.00 in 09'

Assessed at: 19,700.00

Projected rent: 575.00 - 600.00

Taxes: 1400.00 annually 

Insurance: estimated at 800.00 annually

Positive : vinyl windows, good roof, updated100 amp electrical throughout, fresh paint, 

Negative: no furnace, no h20 tank, needs gutters, needs kitchen and dining flooring, needs carpet in 2 beds and living room, plumbing to kitchen and bathroom id assume from no heat,

Seller states: rent to own option available, seller financing available, seller will assist buyer with closing costs. Owner will install a new furnace and water heater with a full price offer. Motivated seller, bring offers.

All repairs needed im more than capable of doing in a week or so accept installing a furnace. Ive been doing all my own repairs on many building for many years so i have no concern there, im guessing repairs are 4 grand or less if i make all repairs

My goal is to make an offer for seller finance with as little down or cash out of pocket as possible and have this unit bring in at least a little cash each month, im not looking for fast equity. 

ID LIKE TO KNOW WHAT OTHERS WOULD THINK WOULD BE AN ACCAPTABLE OFFER, BUT WORK FOR MYSELF FOR WHAT IM TRYING TO DO? 

ANYONE WILLING TO GIVE THEIR THOUGHTS PLEASE?