I'd thought about offering 145k and allowing my agent to take a 3% comission ($4,200), use the $800 on any inspection/closing costs, and the seller walks away with 140k.

My recommendations is to call one of their investor relations specialist and walk through this with them. 

If there’s no appreciation you walk away.

You will walk away with knowledge and potential partnerships. 

And I visit my markets were I work every quarter and walk every loan..

BiggerPockets Real Estate Podcast host @Dave Meyer want's to help our community learn by giving real life examples of deals folks from our community have purchased or are considering purchasing by reviewing these deals and walking through step by step how he would think of this deal!

I'd thought about offering 145k and allowing my agent to take a 3% comission ($4,200), use the $800 on any inspection/closing costs, and the seller walks away with 140k.

I would walk the property (if you can) with a trusted contractor, but get the opinion from several. 

Have you seen the property-ie actually walked it? 

Starting small and scaling up is a tried-and-true path, and this community is filled with people who’ve walked that road and are eager to share their experiences.Feel free to ask questions, share your wins (and challenges), and tap into the collective knowledge here.