Good Property?

[Robert Burns]

I've been working on this property for a couple of months. It's an older home built in 1961, very good condition, 4 bd, 3 bath, 2,000 sq ft, 10 minutes from downtown Baton Rouge across the Mississippi River. Owner wants to sell for mortgage balance $87,000. Comps indicate retail value about $115,000. The house in unoccuppied and the owner is remarried and lives in his new wife's house. I drove by the house today and he has a FSBO sign in front w/ "drastically reduced" noted on the sign. This could mean he will go even lower than $87,000. I'm not sure what Real Estate Investor strategy to use. Any suggestions would be appreciated.