"Am I buying at a discount?"

While flipping you are also getting steep discounts on other properties that you can use for a rehab rent and refi (BRRR).

Partner with some other established investors to do some rehabs or give them a discount.

They are looking to sell in large pools ($50 Million or greater) and the discounts aren't the greatest.  

We had no issues attracting investors as we are have experience with MF acquisition and deep value add repositioning. 

Also, with that price range, it will be difficult to refi and get all of your initial investment out unless you buy at a significant discount.  

Occasionally, the house is in such disrepair that no one in the family wants it and they will dump it at a discount just to get rid of the burden.

The reason most intelligent investors buy off market is because it allows you to buy at a discount.  

It's well worth taking a deep look at the roof, furnaces/ACs, Electrical, etc and put together a quick spreadsheet of when they realistically would need replaced along with a cost for that replacement.

I think most folks deep down resent others making money.