Offer on a SFH in Louisiana?

[Sean Morrison]

Hi, I'm reviewing a house in my neighborhood and wanted to see what people thought about what I should offer. It's a 3/1 SFH in Slidell, LA. I figure about $15k for repairs/updates and it would rent for between 1100-1300 (1200 for below analysis). As for expenses, this is what I think they'll be:

• Various insurance - $260
• Taxes - $135
• CapEx (8%) - 120
• Maintenance - 75
• Vacancy and Turnover - 150

They're asking $100k, but I think that's high. What should I offer? The 70% rule seems to rule out any actual deal.

Also, is it worth sticking in a second bathroom?