I just realized I submitted an offer an a REO and now we have to bid on it but if I throw a higher number than margins become go tight.

Adam, one piece of advice would be to leave your check book and credit cards at home.Every free seminar I've even been to has been an upsell to a seminar that does cost money, and/or a book/tape course and/or (the trend seems to be toward) a coaching program that has either a big up-front cost or a monthly ongoing fee.If you would like to go study how a salesman pitches a room of people however, it will probably be a great case study in sales techniques, especially the last 15-30 minutes where they really ratchet up the sales techniques.You'll get to see all the techniques like getting the audience to agree with simple statements to build rapport, presenting the "total cost" and then "slashing" it for a "today only discount", the old classic "limited time only, while supplies last" and its variant "for the first ___ people at the back of the room", etc.I've gotten good value out of seminars over the years.

Payments must be postmarked by the 5th to receive an early payment discount.

@Robert Power If you are thinking you can buy a duplex and have one unit rent cover all of the expenses, that will not happen (except in very rare cases in very marginal/bad areas) in New Orleans.  

Is it treated as a discount on the purchase price?

They have nothing to lose so they have little motivation to sell at a discount to you.

Disregarding any extra costs, insurances, carrying costs while in foreclosure, junior liens on the DIL, etc,.......I don't care  what "% of  value", "% yield, % cost to value" you have,   $5k is just not enough margin for error.

I owe 19k on the property and my interest rate is 4.8%If i go get a loan through my credit union i can probably get a 3.8% and my private  lender said he'd give me an early payoff discount of $3,500.  

That is an awfully thin margin, for any potential profit.

Being an investor in WV I can tell you that it can be very difficult to flip homes in WV because the margins aren't big enough unless you get the property for extremely cheap.