Do you really stick to the 70% rule?
I have been trying to pick up a property for a fix and flip locally but am having a difficult time. I've put in a few offers but they are just languishing. I'm looking at properties with arv ~175, asking price ~135 needing about 25 in repairs. My initial offer was 80 cash, as is with inspection, fast closing. I'm not even getting a reply. While that might be a tad low, I wanted to have some room to move up when they countered. If I offered 95, I'd be pretty much spent and couldn't negotiate.
This is still my first deal so I wanted to make sure I had a buffer for when I inevitably miss something.