I've been interested in real estate investing for years but haven't taken the leap. My family and I are looking to buy a single family as a primary residence. I came across a foreclosure that I believe would allow us to live in a beautiful home and have equity from day one. I've had 2 contractors look at the home before making an offer and the second one today suggested we not buy the house. I knew there was mold in the basement and the bank disclosed there's freeze damage. The contractor today said he believes there are foundational issues that have caused the mold and we should walk away. However, I think this gives us another reason to come in really low on the offer but my husband is a bit nervous. We've been approved for a 203k loan so I'm thinking if we have a structural engineer evaluate it, have a foundation company give a conservative bid and build it into the offer we should be okay?? The house is already listed at 250k under the ARV and we plan to offer 100k lower than asking.

2nd question: If we were to move forward should we put in the offer and then get the inspection showing the structural damage or come back and negotiate further after the structural damage is determined by the inspection?

I sincerely appreciate you taking your time to read this and appreciate any advice you can offer.

Peace and Blessings