In good condition but oldish house.  

Once you and the seller are in the same ballpark, you'll need to dig into his expenses, rent roll, contract services, property condition evaluation, etc.Best of luck and much success!

I put an offer on a property, and the listing agent asked if that was "highest and best" due to receiving multiple offers (keep in mind, this property is a complete hell hole and I doubt they received any other offers).They were asking way over the value of the place based on comps and the condition of the property (owned by a hoarder, needed to be completely gutted, new roof, etc.

I've responded below:The most important details are price (obviously), area, and condition of the property.

Since the property has been abandoned I'm going to swing by tomorrow and see if I can evaluate what condition it is in.

Then, you'll be in a much better negotiating position because you'll be able to show the seller what the building should be worth based on its income in its current condition - that is, the basis of your offer price.The seller needn't be concerned with the ARV, but it will be important to you when seeking partners and investors.David J Dachtera

I have opportunity to purchase a 4 bedroom 4 bath condo for 99k and of course price varies around that range depending on condition.

The houses are in average condition, great neighborhood and newer 2002. 

It's not frugal or smart), I enjoy all the modern amenities in life (I eat out a couple times a month using Groupon or other deals), I have a newer Ford Focus in mind condition (yes we are a 1 car family!)

Establish condition and comps, etc), another tab for Buyers and their contact info, one tab for Fundamentals (some of the basic calculation formulas and things to think about), and finally, one tab for contractors and contacts in the area to address any potential problems with a property.Create a deal template in a separate file where you take all the info gathered from above and populate the template in order to send out to a prospective deal buyer...And that's as far as I've gotten.Any input on how to get a wholesale deal down on paper would be helpful...I need that too.