Acquiring Deal Information

[Taylor Austin]

Hello everybody! I am brand new to BP and I am so excited to my REI journey. This question will probably make me cringe in a month or so but here goes nothing. My friends are moving out of their house, they left it in worse condition than they bought it in, the owner says she is losing $60,000 on it! So I am interested in rehabbing this for my first flip! My questions are: (A) What information do I need to understand if this is a great deal and (B) How would I acquire said information?

They are motivated to sell so I think they are going to sell to whoever makes an offer. I would seriously appreciate any information and advice this community has to offer. I am based in Illinois in the Chicagoland area, so i guess as an additional question would be how do I know if it is a buyer or seller's market?

Thank you so much!