"Maximum bid" is based on the value of the property, from comps or however you choose to derive that value.

I’ve been able to drop the offer price from $65k to $30k.

Interest rates are all based on the perceived risk of the deal. 

@Christie Gahan PMCs are often lumped in with used car salesmen:(In our opinion this is due to a lot of bait & switching and poor communication.No excuses, but much of this is caused by owners who are always looking for cheaper, but don't care enough about quality.It would be great if someday AI allows a PMC to track every minute their time is spent on a property and send that owner a bill based upon that time, just like lawyers do.

I know in New Orleans it was just kind of assumed that there was lead based paint on things. 

Problem is recent sales will cause -/+ estimates when you have "All cash" sales, Fire sales, High DOM recent price drops, etc. 

The price difference seems to roughly be 200k vs 500k based on what I've looked at.What do you do if all of a sudden you can't swing your monthly payments?

I've looked through recent sales (trailing 12 months) to determine similar cottages with similar lakefront amenities, and although none are as small (most are 1000-1500 sq ft), I determined what I feel is fair market value based on cost/sq ft.

@Travis Schmidt, first I would carefully evaluate the repairs and the costs because that sounds like an EXTREME amount of damage based on those amounts.

AndrewDo you still have the 3 socket meter base in stock?