Flip a "retail" property?

[Stephanie T.]

In response to a postcard mailing to absentee owners, today I was contact by the owner of a 3/2/2. I went to view the house and was blown away by how absolutely perfect it was. The owner took meticulous take of the property and, therefore, there are absolutely no repairs needed.

Simply stated:
- Owner has asked for $120K cash
- Owns property free and clear
- Comps for similarly immaculate home show LP $115K SP $103K

My intent is to flip the property, but with this kind of property and a non-distressed seller, how can I make money on this and pass on to a cash buyer?

The owner has said he will give me a crack at selling the property first. I'd hate to have to turn it over to a realtor for a retail sale!

Thoughts, anyone?