If you're having to ask how much to offer, you haven't done enough research.
-find comps for current
-average it out
-determine a precise amount for the renovations and repairs, not just a dart throw.
- stick 5% in for contingency.
-subtract this amount from the comp average.
-subtract 15-20% for the value of your time, profit, etc.
That's generally how I would go about it, if the comps show its worth $175k in good shape, and the repairs will cost $75k, there is no way I would get in for more than $70k. Even then, you have to hope like hell the market doesn't tank, and I'd be very scared of the real estate market right now.
Now If you are only interested in the home as a long term residence, that may change your numbers some.
