That can be a tough part, but isn't close to half of the process.

@Shawn Questa I agree with you that there could be some opportunity here, but personally, with that little equity in the property, I'd wait for the pre-foreclosure process to start and  perhaps you can do a short sale (though I don't know the details on how that's handled in TX).

Whether you’re a mortgage broker, real estate broker, or running a private lending shop, what software and processes have been game-changers for you?

Can someone walk me through the thought process I should be using when constructing the offer?

What's a friendly foreclosure process?

Offering a streamlined process, no repairs or renovations prior to selling, no market costs or agents fees for my family member, in return I will gain invaluable experience in the market and in the field along with providing my family with wholesale services.

I haven't gotten serious yet and don't have a local agent, but I have been window shopping and may reach out.Hi @James Bing, yes I manage my own properties by leveraging technology & local relationships to automate the self managing process.

Everyone in real estate will be incentivized to upcharge your friend along the process hurting profitiability. 

However, I do rely on my trusted network of local professionals for different parts of the process.

Before becoming a designer, I was a systems engineer and business analyst (MIS degree), so my process is deeply rooted in formulas to keep the right elements at the forefront.