Hey Bigger Pockets members!

New investor and new to bigger pockets! Looking for a little advice on a property in my neighborhood. The house is a VA foreclosure (unsure what exactly this is) listed just under $200,000 (similar homes going for $240,000+). Doesn't need a ton of work just a little paint and updating. The selling agent said they are taking offers for 12 days and then choosing from those. I wanted to go in a little lower than the asking cost to try and make numbers work a little more for me. Any advice??

ps. I could possibly pay all cash if that would allow me to bid lower