Help me on my first deal!

[Kevin Sack]

Long Distance REI brick duplex built 1942. One side occupied @700/mo, one vacant. Seller listed at 90k, seller countered back with 80k after an initial offer of 72k. Comps in the area are anywhere from 45k-135k depending on interior condition. I have no pictures of interior or inspection yet (REA is setting up a viewing) so I'm hesitant to accept the 80k offer. I'm estimating about 10k in rehab for new flooring, paint, etc and adding W/D to the rent. I ran the numbers at 700/mo but should be able to get 800 with W/D and rehabbed interior. BRRRR might be a little more difficult on this one since one unit is occupied and I don't particularly want to get rid of an established tenant. Another option I have is private money with no fees at 6% with zero down until the refi is complete. Any advice is welcome!

[Ed Emmons]

@Kevin Sack Looks like you need to get better comps as that is too much of a range based on interior. I would guess it is based on location. You should be able to get within 10% of its true value. Maybe try to contact a local realtor to get some input on exact address. Might be good to call local code officer too as they are often good sources of information. You can always accept his counter subject to your inspection to lock in deal but still give you an out if you find something.