For those of you who are looking at investment property this article from Bigger Pockets has some good information on how to approach the offer table.

  1. The summary version is as follows:
  2. Get to know them on the phone
  3. Get to know them in person and thoroughly inspect property
  4. Put together the numbers and make offer including the following.
    1. Letter of intent to purchase property
    2. Proof of funds
    3. Testimonials that you may have
    4. Estimated costs of what it would cost sellers to fix home themselves
    5. Walk them through the math and benefits of selling to you today

Good luck in your investing endeavors!