I will have 70k cash to get and rehab a property, with a line of credit if needed.

It needed light rehab and within 3 mths I was able to refinance it into a traditional mortgage.  

So about 3 hours ago (12:30am) I received an anonymous text from a claimed buyer stating;"(Address) Ave - $28000 I hope items are still very much in good shape as stated in the Ads?

We recently did a full rehab on our kitchen and considered this exact situation.

You have an address?

Otherwise, your question is just to broad to address.

. ** and yes: I don't know how you are arriving at 50k But go see it: based on comparable sales arrive at an ARV (after repair value): then get the estimated rehab cost from a reliable contractor: Then get the ARV $: times 65% : that will give you X: minus repair cost : and that will equal your offer priceFor example: ARV is $100k : times 65% : or 65k minus 20k in renovations: so your offer will be: $45k You can't lose with this formula. 

Places like South Euclid or Cleveland Heights that require low to medium rehab but no full rehabs.

We're doing a small apartment rehab out there.

All of this is become more important to me because I am currently working a rehab project with a partner that promises to yield a good ROI.