I currently rent a 2bd/bath apt in Bellevue and pay $2100 in rent which I believe can be better spent in paying my own houses mortgage pm but any decent houses run from 1-1.5 mil and most from 1.5-2 mil range.

There will be a lock period up front where the interest rate won't change, and that can range anywhere from 1 - 10 years. 

@Stephanie Fleming,Thank you for responding Stephanie, so what your saying is I should create a range when searching for comps?

The market for rooms in a group house $700-$900 range and a studio $1,400 is very strong.

I didn't realize all the different strategies that are out there and it really opened my eyes.If you're stuck, I think a good starting spot is figuring out a price range you feel comfortable with.

It stays within a pretty tight range but as @Marcus Auerbach mentioned, I have the Credit Karma app on my phone and I pay very close attention to when my different accounts report (fyi - it's not the closing date on your statement).  

Every market is going to have a different range or cap rates that would be suggestive of good properties or risky properties or cash flowing properties, etc.

The surrounding houses are valued in the 150-200k range and this house is right around 80k.

Ok long story just to ask, I've done my numbers and can make a go of this at 250-260,000   How do I set up an offer to not insult but to end up in that range?

Try to focus on the price range you want to work, meaning don't look at $50K mobile homes and $1,000,000 listings, if your target market is $200k-$400K, become an expert in that market.