General Rule of thumb to use for SFR, but can be a quick guide for what you're looking at..1% for A neighborhoods1.25% for B Neighborhoods1.5-2% for C Neighborhoods2+% for D Neighborhoods.Not sure of the exact location, but I would venture to say you're probably in the C range in Madison and the way she is charging tenants/ vacancies.As-is with vacancies I would estimate $390,000.Completely Occupied / No major deferred maintenance $590,000.I'm curious to see other peoples thoughts on this too..

I do however need an investor friendly realtor and contractor on my team to help me with comps and repair estimates to help me determine my offer.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Also, you need to get a solid repair estimate as well.

I estimated the ARV to be 50k, with repair cost of about 26-30k, and the seller is asking for 4k.This is a big 5 bed, 2 bath house (1,866sqft)Where I'm confused at is I'm wholesaling and if I estimate the flipper making a 15k profit but putting in 30k sounds like it's more of a loss.Amy ideas?

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

he says he owes 183.Zillow estimates it at 175.Comps range from 143-195.For whatever reason he says 150ish is his lowest he'd take cash.

That will not be the case if you buy as a short sale.Last question, if you buy it, lease it for 5 years, you have maintenance and repairs,  not knowing what you'll have in the property, or having an insured loss, can change your ability to profit, I'd think hard before agreeing to sell under its estimated MV or simply adding to your purchase price, neither price you mentioned has anything to do with the MV, so it may well look more like a loan or sham type transaction.