a lot of the advice ur getting here is from sage-old experienced people who've had a lot of success.....so of course they're going to preach the "safest" path with 20/20 hindsight.....If you're young, that's all the more reason to go FULL TILT.

Keep in mind the counter is not really a counter but more of an invitation to re bid for the next day- Use an agent that has closed many HUD homes as there can be difficulty with financed properties, selecting a title company and such- Finally, new asset managers have taken over in the last month or so in most regions(Sage Acquisitions) and based on what I have seen during this time your bid of 90K has no shot. 

Sage advice @Jay Hinrichs.  

@Paul Mendel  Ian T. you guys seem to be the most familiar with the Albany area.I went to SUNY-Albany from '09-'13 and lived in the "college ghetto" for one year and while I'm somewhat familiar with the area I realize renting and investing are two completely different things.What are you guys thoughts on renting in the "college ghetto" and if you guys aren't to familiar with it or fond of the idea do you recommend any other student rentals areas that are a better option, maybe geared towards other schools such as st.rose, Albany med, sage, etc.

@Sage White Any updates on this?

Thank you @Michael Lee for the sage advice on turning fear into a positive asset, who needs fear anyways!

and think you have a neat idea...I would research the property's needs and condition (as you seem to have sagely started) and calculate CapEx on a monthly basis into your equation (the article linked below shows a sample Cap Exchart) and see the many BP forums on Cap Ex. 

Alright, all that being said, I need some sage wisdom.

As @Thomas Franklin sagely observes above, this generally benefits the bank.

Plant a few native xeriscape plants like Russian sage, salvia, iris, daylillies, grasses, valarian, or yucca.