How much to determine to put n offer on a property?

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@Nadia V. there is a lot that goes into answering your question.  I'll just provide a few thoughts geared around the concept of beginning with the end in mind.

First, what comes next after this home? If you want to acquire more properties, then you will want to focus on a value-add house that can be purchased and fixed up for no more than 70% of estimated ARV. If you don't want to deal with a lot of rehab, then you're most likely going to get a home for near-market price which will prevent you from acquiring more homes unless you have a lot of extra cash on hand.

Second, what is your exit strategy?  A couple obvious options are flipping vs. renting it out.  If you are fine either self-managing the home or paying for a PM, and the estimated rents, expenses, and financing costs all result in a cash on cash return that is acceptable to you, then definitely rent it out.  After a seasoning period (6-12 months) you can do a cash-out refi, get back most if not all your invested cash, and repeat the process with another home.  If you don't want to deal with renting it out, you can certainly flip the house.  But be mindful of what market prices are, and refer back to the 70% rule in the prior paragraph.

After beginning with the end in mind, then focus on finding a home that meets those goals.  Hopefully there's a nugget or two in there that can be helpful to you.  Best of luck!