Short Sale Info Gathering Stage Advice

Foreclosures, Short Sales, Tax Foreclosures
1

Just got a call from a middle man that is negotiating with the bank on a short sale property. I know very little at this point other than the house is older, the owner is moving out and we might be able to see it saturday.
It is a 3bdrm, 2 bath with some work needed. They are are listing it for $30K, but already said they would take less. I am thinking it can be rented for $600 updated and $450 in current state with what I know now. So what I will do is gather data this weekend and chat with you guys when I know more.

What should I look for? Thanks!

2

Take a look at your big ticket items when you see the house. How does the roof look? Are any of the floors sagging? Is the electrical system updated with a circuit breaker box or is there a fuse box w/ old wiring? Check the A/C and heat. See if your drains drain. Do lights/electrical outlets work?
Take note of all deficiencies and use these to “justify” your lower offer.