I have since been in contact with the seller and am expected to have a phone call with them soon to plan a visit with my contractor to assess the work that would need to be done.

They will want to be your 'partner'... do not even consider the offer.If someone has a skill or talent to offer, and that YOU ACTUALLY NEED, make an assessment of what it is worth to you and then offer to hire them for that amount of money.

I'm currently looking at a house that's listed for 125k they won't budge on price assessed at 123k and the house is nice and located near 2 hospitals.

I'm currently looking at a house that's listed for 125k they won't budge on price assessed at 123k and the house is nice and located near 2 hospitals.

There is obviously more risk with rehab and maintenance costs eating into your margin, but our team is pretty competent in assessing the risk and dealing with the work. 

Roger Skove With you doing the labor as well these are difficult to assess as it can lead to disputes later on regarding value of rehab if the deal does not go well.

In our area, we have access to the MLS and Realist Tax Records, with both providing very good search tools so we can target more specifics than the average person looking on Zillow or at their city records assessment site, although some city websites are actually a very good tool.  

The fair market value, and the price it was assessed at for taxes, is $236,000 (according to the city records).

I'm looking into my first potential investment, I'm looking for help on how to figure out how much I should offer I know the list price $550,000 on four units, current rental income $3595 the property is in good shape...

Account Closed's assessment on that area.