I'm a full time investor now but I had careers as a respiratory therapist from 1972 to 1988 and as a software engineer from 1988 to 2014.Noteworthy accomplishments (in order of importance):Married my wife Brenda in 1981, Completed 2006 Iditarod sled dog race, first ascent Gilhooley Tower in Olympic Mountains in 1972, quit smoking in 1985. 

I was thinking I'd submit an offer of $425,000 on this house.

Gives newbies courage to submit a low ball offer and not feel bad about it.

Pretty standard apartment inside and out.Rent in the area according to rentometer for single beds is $640 so it's on the low side and with the old original appliances and cabinets and stuff, has upside potential.I was thinking of offering 380k to start and subject to financing, with inspection contingency, request a schedule e (he showed us numbers from his accounting software already but to be safe of course,) and estoppel certifs.Income 52kExp 14kNOI 58k~Rents- 525-575My broker said he'd go 390k max but he said he thinks it would be a good buy to hold for cashflow and rehab units for higher rent. 

My name is Nick Nobrega and I'm a 29 year old software sales rep.  

I'm preparing my taxes right now and I'm not sure if have to submit taxes for the whole year or just for the three months.

As @Wayne Snell rightfully suggest, you as the Mortgagee will be able to submit a reserve bid which will set the floor bid and any bid to purchase will have to exceed that bid in order to get title to the property.  

@Jason Ma It is risky but contingencies are the way to go if you decide to blindly submit offers.

I just submitted a bid on BuildZoom for a roof that needs some work from raccoons.

Newbie here that is excited to be part of the community and submitting my first post.