Hi,I put in an offer for my first investment real estate deal and received a counter offer.

House is worth about 75k, counter offer came in at 75 after we offered 70k (original price 79.9) rent is 700 a month and we don’t want to go over 70k for the 1% rule.

If you don't think there's going to be offer competition, you could go below your maximum offer, and work towards your minimum ROI with counteroffers, but you may also miss out as an other investor swoops in.  

The cabinets look reusable, if I can get someone's tile counter off without destroying them and can make them work in new area dimensions.

@Stephen Hundleywhy not counter offer the investor?

Counter offer back and forth as necessary.There's no need for you to be going out and making 5-10 offers per week (or more) when you are just now getting started.  

Once you start getting counter offers, then decide on if you want to proceed..but don't stop bidding.  

They'll just keep reposting the auction every week until there's a winning bid that meets the reserve or a winning bidder that accepts their counter-offer if the bid didn't meet the reserve.

They can calculate their net proceeds from closing into their counter offer easily enough.

after every counter offer.