I figured I would buy it for below market value, do most of my own repairs, and then sell after 2 years so i don't have to pay capital gains tax.

You really should be lower than 70% also if you intend to wholesale this to another investor as you need to work your fee into it before the 70%.Good Luck-

Buy cheap enough you can price a little below what the ARV is to attract buyers.

The key issue is establishing what is the FMV for that property and why you were able to buy it below FMV in the first place.

Would it be an insult to offer 15% below asking price?

If you do screen or filter out specific deals what can you tell us about the process?

It is a foreclosure duplex 2600 sq ft assessed for 94kAsking 35k I will offer 25k plus 10k to fix upBefore the bank took it the property was renting 650 per unit with tenant paying for everythingThe agent told me that the previous rent was a little lower than market for a 3br apt.IncomeAnnual rent (based on 600 per unit) 14400ExpensesTaxes-3900Insurance-980Property management-1440Vacancy(5%)-720Maintenance- 1440Total-8480Net Profit- 5920 Loan at 8% with 3500 down= 231/per month, annual- 27725920-2772= Cash flow- 3148The agent said That after fixed I could get easily mid 60's and that is even 30% below assessed value so should I cash flow this or just flip or neither and wait for a better deal?

I haven't had to deal with repairs other than replacing the air filters, no vacancies issues yet and payed $125 for gutter cleaning after we moved out.

The first time buyer rate is something around or a little below 6% at the moment, so I would need to get a better rate then that from seller.

I rented them alittle below market in the interest of getting them occupied.