If this property is likely to attract multiple offers, I always advise clients to make their best offer right out of the gate because they might not get a second change.On the other hand, if the property has been for sale for several months and is not under contract, or worse, has been under contract several times, there may be a hidden defect.

The seller may not be aware of certain defects or hidden damage (insect damage, rot, etc.)It is buyer's responsible to complete their own inspection.

So those hidden costs lessen the true net to the seller.

When you've narrowed it down to one or two operators, visit them, shake their hands, tour the properties - looking someone in the eye is still one of the best ways to either gain peace of mind or clock hidden red flags. 

I just want to reply that you need to make sure there are no hidden problems or liens against the property.

(but I will still be looking to dig those gems out).  

He is licensed, insured, bonded, AND experienced, conscious of code requirements, fair priced, reliable, trustworthy, AND does the job for the price he quoted (unless there are very atypical circumstances involving hidden conditions).Definitely worth meeting him and getting a bid.

Not hidden in a sneaky way, just out of sight.http://www.homedepot.com/b/Building-Materials-Builders-Hardware-Jack-Posts/N-5yc1vZc8hw 

Hey David,Sounds like you found a hidden gem.

If what you say is true about your possible profit, you may have uncovered a gem.