My new Wholesaling business venture. Looking for some help!

[Alex Jenkins]

Last week Friday I started my Direct Mail Postcards and chose to deliver all the in-county ones myself, going door to door. I knock on the door, ask for the owner, introduce myself and then ask if they would consider an offer on one of their properties they own. I also have started cold calling my list of vacant homes and am trying to figure out a good process and system to be consistent on my calls. Those will be my 2 main marketing strategies, to begin. 

Today, I got my first potential lead: Seller called me and said he bought the property when he was my age (18), and asked why I was interested in his property. I told about how I work with some investors looking to buy properties in the area to fix-up and flip, or to rehab just enough to add to their rental portfolio. He immediately gave me a number that he'd be okay with to sell it to me. I'm having a hard time finding the ARV for the property because its a 2000 sqft 2 BR and all the sold houses around it are 3+ BRs. He also mentioned that it is a flat roof that would probably need replaced in the next 2 years if not sooner, and the condition of the house was 7/10. He has tenants in both the upstairs and downstairs units. I'm also struggling with what next step I take and what things I should talk to the seller about to close the deal, if it even is a deal.

I'm working out of Grand Rapids, Michigan, but if your someone who knows the Midwest market and could possibly help me with a few questions and pointers on my first deals, I would really appreciate the opportunity to learn. I'd rather learn how to do this the best and right way and make 50% on a deal than do it all myself and make countless mistakes. Lets connect! Thanks