An offer say at 20% below asking price on a 60K home that is retail ready may be considered a low ball offer and may not fly, on a 1.5M home, an offer of 1,2M might be taken in a heart beat.I suppose too you need to know the general "feeling" of Realtors in your area.

It's amazing what one can accomplish in such a short amount of time if they dedicate their heart and soul to it. 

Seems like you have a teachable heart and good spirit. 

I'm hoping that I won't need to spend more than $55K on the house and since I can trip and be in the house in a heart-beat, I can actively manage the rehab.

Welcome to BPMulti family property are pretty tricky to work with. the best thing to do is accountant and an Attorney. taxes change all the time, they would know the tax rate best, they might even have your best interest at heart. try not to do the legal paperwork yourself there is a lot of legal jargon to know, easy to make a mistake with it.Best of luck with it

People can turn against you in a heart beat!

I'm in Heart of Texas, Belton/Temple/ Killeen area.

You will also get to witness bleeding heart judges going out there way to allow continued residence for tenants despite not paying.....but don't take my word for it, go check it out....when youre done there, go down to pratt st off mlk, go hangout in the section 8 office during walk in hours, witness the ridiculousness that ensues down there.....dont shoot the messenger

It was very informative and put the fear in my heart over my sad retirement plan.

I would build sweat equity now have cash in the future.Just my 2 cents do what is right in your heart.