Your initial assumption was correct.

It's not exactly a "fair" assumption but you have to put yourself in the shoes of an owner who's being solicited on a platform where it takes about 3 minutes to create a fake profile and/or pretend to be someone else.  

My assumption is the listing price will not be near the price the bank paid for it but listed at a price similar to comps in the area (not what I want).So this time I looked at pre-foreclosure.

That would push your repairs up, reducing your ROI.What are you other assumptions?

You've made a lot of false assumptions, and not read my OP.

These are my assumptions so if someone else has any thoughts on why my math is not correct, feel free to correct :)

Your statement is all based on assumption.  

There are a lot of assumptions going in there.

Offer to give her an offer with the assumption that the house is in total disrepair and will have to be gutted with everything replaced.

- I am still narrowing down properties and would like to have a general contractor do a walk through to verify my assumptions.