If I were you, I'd pass on this property and look for something else (and I suggest a 3 BR) under $80 that you can put a little rehab into, unless insurance pays your family member a bunch of money and they accept a much lower price. 

@Ogonna Odo A small number of my contractors have started accepting credit cards.

If youre wanting to make a cash offer, all I can say is that Ive never seen a competent seller/listing agent accept a cash offer without proof of funds, meaning a bank statement or similar document(s) showing liquid cash for closing.

I accepted my first ever owner financing buyer and closed 2 weeks ago.

This.Also, if you were the tier 1 worker bee at a relocation company who wants to get a family housed, happy and as quickly as possible, would you accept the word of a guy who sells a course to new-to-MTR investors that "here is Eli; please send him all of your business.

I agree with Michael, probably need to make 100 offers per 1 accepted to find a good deal. 

You will never know the right number until you have a chance to inspect and get contractor bids, which will typically happen after an offer is accepted. 

We operate a real estate, mortgage, and property management firm dedicated exclusively to Short Term Rental Investments.

Here would be a reasonable case if you sold the property while getting the section 121 exclusion.

Down Payment + Closing Costs = Cash to Close.For your purchase contract, I'd have suggested an escalation clause requiring proof of next best offer upon acceptance.