Wholesaling Bite - Evaluating a Condo Purchase

[Stephen Beaudoin]

I just got my first real bite from the start of my direct marketing efforts and as always, all advice is welcome.

The info I have is:

It's a studio condo unit that is paid off and has an estimated ARV at about max of 163K and the unit is currently rented at $1000 (which is low for the area).

Unit has city view, not ocean view, but building has pool, gym, sauna and the beach is across the street. HOA is about $255 and taxes & insurance are about another $260 a month.

Not aware of any repairs needed, assuming general updates, at a few thousand  for paint & fixtures.

All tips on negotiation and what to look into for due diligence is welcome... I wasn't expecting a condo as a part of wholesaling and while he is motivated, his starting price was the tax estimate, which would be roughly 145K.

Thanks for any and all feedback.