The lack of supply combined with dirt cheap interest rates and lots of discounted foreclosures and short sales brought in an over supply of buyers.

Lane it doesn't really matter what they're asking, what matters is what the value is and since you'll live there that is definitely going to be different than a typical rehabber would pay.Here's where I'd start;1) What would a freshly rehabbed house in the neighborhood cost (you say about 150-165 let's say 155)2) How much are the repairs going to cost(at least ball park this one for now) we'll say 25K(8K roof+12K interior updating and repair+5K landscape and exterior)3) What kind of a discount do you want for doing the repairs instead of just buying a rehabbed house(15K not enough for a rehabber, but you're not trying to make a living at this just get a better deal on your personal residence)So 155-25-15=115K would be my maximum I would offer based on my hypothetical repairs ect.I would assume for the discount to be that much below the ARV you've stated that either the repairs are substantially more than 30K or they're trying to get a bidding war going to drive the price up or your ARV may be off.

Since your going to get an education one way or another, I think you are unrealistic if you side with the BPers here who will tell you that you can learn enough just by reading these forum.I am, however, willing to considering buying your CA loans that go bad, (for a substantial discount, of course).

Additionally, there is some legal impact in selling REO off at a discount that is making its way down the food chain.

I got a few questions unrelated to topic.What type of discount do you average on hud homes from the list price and bid accepted.

Maybe you can get an end of season discount.

Michael Quarles was kind enough to offer a volume discount for ordering two combos.

There is a reason why the bank is discounting the house (They are fully aware of the lien).

I heard of some people allowing tenants to sublease detached rooms and either increasing their rent to (tenant would keep profit from sublease) or offering a discount if the tenant manages the subleasing through say air bnb (landlord keeps profit from sublease). 

That being said, Tilton, Thomas and Morgan was able to get us a quantity discount so I'm not sure they would be great if you only have a few.