I think this would be of tremendous value to you.

Comps support the price, so its a fair deal, but not a significant discount.  

But clearly by the $10,000 price discounts each month you certainly have a motivated seller.

One additional benefit, I have had luck contacting them after a year or 2 and asking if they'd like to settle the note for a discount.

I own a small park and would not pay more than $10k for a home that old, and only then if it is in tremendous condition.Insurance $500/month?  

So what kind of terms would I want to offer them (the purchase price would be around $105k) and what would I be looking at getting after the sale (how much of a discount will I sell it at)?

Also good tip on buying over 1500 at home depot, I was not aware they discount past that threshold. 

Been learning a tremendous amount by reading the articles, listening to podcasts, and reading answers to questions that people post.

While I have tremendous respect for his courage to own his own business he has taught me the importance of preparation.

The first flips were during a super hot market, so 1 was an easy rehab and the other I purchased at a discount for cash simply resold 45 days later for profit.