Help Analyze Deal with a Last Deed Transfer as "Quit Claim Deed"

[Melody Kushi]

Hi guys.

Hoping to get some feedback on my potential first wholesale deal.

I found a property through Redfin. After digging around, the last transaction goes from one Business to another and states - Quit Claim Deed. I have an appointment with the seller's agent to walk the property to see if in fact, it is a good deal and to confirm the condition of the house...which is in pretty rough shape.

I'm looking to hopefully wholesale this deal to a flipper. Property is in South Jersey, below are my numbers:

Listed: $55,000 ($40/sqft)

3 bd, 1.5 bth - Potential Rehab: $30k (will confirm tomorrow)

Comp: ARV $120,000 ($86/sqft)

4 bd, 1.5 bth - pre-flip price unknown

Exit Strategy: wholesale to a flipper (assignment $10k)

Offer: $30k. Highest if counter is $35k.

I'm worried about this Quit Claim Deed as I've read the definition on Google and still do not understand if this will jeopardize my deal.

Any feedback will be appreciated.