obtaining a distressed property to flip
I would like to try to obtain a distressed property that has just been condemned. They owe back taxes(3500) and I'm sure they do not have the funds to make repairs. I am going to knock on the door and introduce myself and see if they are wanting to sell. Is there a typical amount that may be offered extra to help them out after I come to my price? or even to do that. I feel this house is 240-250k ARV with about 40-60k repair. I was going to offer them 110k. This would be my first approach on a property/owner like this. Any advice is appreciated. Thank you.