My first wholesale property, Need a fellow wholesaler advice.

[Jamal A Turner]

Hi guys/gals, I'm new to wholesaling and I finally got a response. I'm not trying to mess this up. The home was built in 1924 has 3bdrms 1.5b and about 1550sqft. I know when i look for my comps, it should be somewhat similar in built and square feet. Plus, in the same town but the town is small and havent had any recently sold properties. With that being said there are tenants living there now paying 1200 a month. The for sale price is 330,000. The landlord has kept it working and there are not much problems.

1. Should I look in the neighbouring town for comps?

2. Should I search for homes built 1900-1940?

3. Depending on the ARV, do i times it by 7 percent then multiple it by what my cut is, and do my cut have to be under a certain percentage.

Sorry, for all the questions just been a little busy with my main job and really do not want to mess up.