You need to come up with a Rehab Estimate to help justify your lower offer. 

Hello all, I am new to the real estate investing world and I am considering the path of rental properties but one of my major concerns is the chance of lawsuits against the landlord.

There is a better chance that the Texans QB Tom Savage makes the Pro Bowl than the loan gets called

My letter still gives the tenants a chance to pay until 15th of the month and if not received 3 days after eviction notice will be served

One of the biggest pluses is no chance of a plugged vent and a dryer fire. 

Property values in the area are flat (It's a town an hour east of Ottawa Ontario, an hour west of Montreal of around 10,000 people and there is no growth happening) so there is no real chance of appreciation on the property. 

I don't want to chance it and what nasty residue is left on the walls that I will have to clean off. 

What is the make-ready estimate?

Market rents are around $800 during the summer months, but I've been using conservative estimates in my numbers.

I'm estimating 20K in repairs, ARV of 75K, $1250 rent, $162 monthly P+I@ 5.38% over 30 years (called like 50 banks to no avail, decided to call the bank i keep my money in and found out they hold their own paper).