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.

Playing the social justice crap of roommate meetings to talk about stuff that doesn't matter makes me think this person is likely to try to play games.You might try to be helpful and do some searching for/with them, print out listings that are in the price range as what she is paying you, etc. 

Could be in the range of 30-40K, much more than i anticipated because it requires structural renovations as well. 

That being said, I know of plenty 4-unit properties for sale in that same price range that are in C-D areas so $1.1M in an A area sounds like a slam dunk but I'm sure its been on the market this long for a reason - i.e. poor interior condition, non-cooperative tenants, title issues, etc.I'd be happy to help you look into this deal a little further.

would you recommend starting in that price range for a starter like me?

Interested in knowing  like the price range to stick to for a decent ROI, how long on average it could take to sell and any other need to know info. 

Turnkeys right now, in general, are ranging around 6-10% cap rates, most of them being between 6-8%.

Many places can be in that range with good cash flow.