I would have a contractor walk it, and give you a bid for a complete to studs remodel, and add 10%.

@Brandon Sturgill  and if it goes to foreclosure sale it takes time to get your deed.I just closed one today ( got paid off) on one I bought in Ohio at court house and it took 2 months just to get the deed and most are not TRUE cash buyers like us.. so folks like that don't need you in the middle of it they will just go to the sale and bid.. ??

Find the people that are winning the bids and go introduce yourself, let them know that you come across properties like the ones they just bid on for cheaper.

There is a reason OOS investment homes have been bid up- that’s to a large part by CA investors with lots of equity in their primary home with the ability to invest.

may take some time depending on the state and some capital.At foreclosure sale, there is a chance that some other bidder can out bid the lender and take the property for themselves... 

My max bid was $49,500.

I am an out of state investor looking to get a 3rd and final bid for interior rental rehab.

THEY will only bid what is owed to them.

There's bidding wars, institutional investors overpaying, and the masses assume because it's an REO so it must be a deal regardless of what the numbers say.

And he was putting a lot of time and energy into underwriting and he rushed on a recent HUD deal I was going to bid on (that never panned out).