Buying a friend's townhome?

[Butch Greene]

Friend lives in south Charlotte. Has a townhome they are wanting to sell within the next 6 months. 
Ones nearby of almost identical location & build (2 story) are going for $305k fully updated flooring and appliances.
Friends condo has the original carpet, pet stains, original paint, appliances and cabinetry.
Has new AC.
We don't have a ton of money to buy it. 
How do we figure out what we should offer for it? Don't want to shaft them at all.
Want to BRRR it.
Will they get the townhome sold for much more than we could offer?  Friend has no intentions of renovating.
Is there a way to determine (and present to them) what others buying in that market are going to offer?

How should we approach it?  Pretty sure friend has their original mortgage from the purchase when like new. 

[Jason Wray]

Butch,

You really want to focus on the sales inside the condominium complex before you look outside at other condo's. An appraiser is going to use the condo's inside sales first before they look at sales from another complex. If the sales in the complex are generally older than 12 months appraiser may use an outside comp and gross adjust.

A realtor who has or had sales in the complex should be able to help with that answer or simply check online. Use one of the major sites like Zil, RedF, or realtor .coms to see if they offer an estimate. You can also reach and talk to a banker and have them pull an AVM to check on comps. Does your friend have a bottom line that they feel very comfortable telling you as a "good friend price".

Condo's do not require much down you can go FHA 3.5% or 5% conventional as long as it is not a "Non-Warrantable{ style Condo.