I feel like if I can get a good deal and rehab the property that is better than buying something with deferred maintenance and unknown tenants.

IMO, what might help is a letter from your attorney to advocate your position due to undue constraints as you were not familiar with the new route which was then unknown that needs to be taken, but that it poses additional risks or exposures, if such applies.

For me (electric heat, unknowns on electric and water, one water meter) I would say 120 tops value...2 local investors agree

Otherwise, it's up to you on how bad you want it and any unknowns that might go with it.

The other party could hold their offer or increase their offer of unknown magnitude (over original list even).A strategy that worked for me in a Fannie multiple bid situation (use at your own risk!)

A QT is likely a non starter as it is Not intended to take a property from unknown heirs.

- Are there possibly any other Georgia probate rules, that would allow me to deal with things differently, if the owner died intestate 85 years ago and heirs are unknown or not to be found?

Insurance was my biggest unknown.

Too many unknowns. 

@Jack MiddletonUsually either pre-qualification or proof of funds required especially with new unknown clients.