When is it Ok to buy Freddie Mac Forcloser homes

I found a really great place. A foreclosure with Freddie Mac. a couple acres, nice home, small but very nice 3 bedrooms two full baths, across from our hiking and horse trails. Excellent location near a college town.
The tax assessment is $161k, and at our REI club, they say take it down 20% then do your arv, and tell us ways to determine FMV.
REMAX had brought the price down to $84 not sure what they first had, then they came down to $74k.
I called an agent I work with and we looked at it.
Not bad at all. Needs no major things done, just basic clean up and carpeting and painting.
I talked to her about offering $64, she called me back and said to offer less, like $55k.
Then I went to my WINGS meeting, (about 40 women who work and share knowledge on RE), and after that decided on $48k.
Now, I am probably going to let it go, can't find PML. But to flip, Freddie Mac makes you hold it 90 days. I already had two possible buyers, or they would rent it from me or lease option, or even land contract.
Remember you have to hold with them.
I checked into financing another way, but I have to live in it for 5yrs. I could do that, as I love the place, very nice location, in the country, and I could do those payments of $1500, have a roommate already, but I need to do deals and make money.
But your question, offer way less......they may say no, but they have tons of homes to dump, so find out some numbers and post it, or get your own agent to work with you. They then represent you, and can encourage you at your offer. Where the listing agent, may not be as honest, she wants her commission, and it wouldn't be right if she says to you offer less. That is not ethical on her part.
Let us know what happens.