@Shan K.I got a pretty good grasp on what to expect for rates, occasionally there are curve balls.

I  understand that the surrounding cities are a different ball game but have never invested over there - of course you are then looking at a different price frame, demographics and cash flow.

Maybe I should get on the ball!

All that being said we are still pretty new at this and are use other part time employment to keep the ball rolling.  

you could check zillow or realtor.com for a ball-park estimate of value....as for the $1060/mo.

Do the sellers, buys, real estate agents have different definition of low ball offers?

This weekend was a real balls up.My husband and I currently live in South Jersey and own three rental units.

Your calculations need to be based on the ARV to accurately value the equity you will have in the property.You have an additional expense of $145 per month to pay the 5% return on the $34765 you have tied up in the property.The 50% rule is only a ball park number to assess if a property is deserving of further DD in a purchase situation.

I gave them a call before they had a chance to call me and I got the ball rolling.

You're dealing with a bank and not an individual seller, there is slightly less feelings involved.If they are not happy with your low ball offer, simply tell them it's a liability to offer a higher price on a property they can't grant you access to.Lastly, I will say that if you're not an experienced flipper I would shy away from a property you have not done a walkthrough.