Investor says price is too high... is it?

[Michael Lerch]

I have a feeling the guy is just trying to low ball me into making no money off of this deal, or he may be telling the truth.

This is a wholesale deal
ARV = 34,500 (at least it's what I see in recent comps excluding tax sales)
House under contract for $14,000
Repairs = Less than $1000. Needs paint.
Selling for $24,000 (leaving 30% Equity) and I'm paying all closing costs

Already has tenant paying $400 a month.
Home isn't in the "ghetto" but it's not the nicest neighborhood either.
Home next to it is near identical someone bought 2 years ago and rehabbed. Sold for 60k+

They keep telling me why would they pay 24k when they can get other homes like it for 5-12k at auction. It's kind of frustrating. I can't tell if they're serious or it's all part of the negotiation game.

Any advice would be appreciated

I have the property listed on my website (only one at the moment) so click on my signature link to view it. also has virtual tour.

Thanks