FIRST DEAL!!! NEED A LITTLE HELP (OFFER)

[Chris Greene]

Did some direct mailings. Have a prospect who is absentee landlord, has owned residence since 1972, currently owes approx. $58K, according to her. Zillow estimate value is 98K. Drove by property last night and estimate repairs at $15000. Comps in the area average approx. $110, 000. I plan on wholesaling this deal but would like some advice regarding the offer I should make. I think my initial offer should be somewhere around $70K. I would like to make approx. $5K. Am I doing this correctly?

Sorry for the fundamental questions, just getting started.

Thanks for any and all help.

Chris