Widow in preforeclosure

[Neil Sinha]

Hello. I'm a new investor trying to shift from prep and analysis to finding my first deal. I'm trying to focus on the BRRRR strategy. I've lined up enough capital to engage in cash offers and so I'm looking now at foreclosure notices. I see one in my target market area that I think might be a good prospect for me:

FMV: ~$132,000 (Property is in the same subdivision as my primary residence where I just got a HELOC and I've adjusted my appraisal value for square footage and a garage conversion. Unsure of condition until I get inside).

Property was sold to current owner and her deceased spouse in 2004 with an original $72K mortgage that is now in foreclosure.  Spouse passed in 2011.  There are no second liens or deeds of trust recorded with the county.

Rent comps in the area would conservatively suggest $1100 for 3/2 with this sq. ft, possibly up to $1200.

Auction is on Sep 5th.

Does anyone have suggestions on how to approach this deal?  It's less than a mile from my home, so I can go knock, but I want the right tact considering she's likely in this position due to loss of her husband.  She's 53 from what public info I can find, so has a lot of life ahead of her.  I want to be sensitive but not miss a deal and this is my first attempt.  Thanks for any advice.