First wholesale deal...need help

[Leonardo Cadenazzi]

Can anyone help me with my first wholesale deal ?

I am closing in on a property i found today after sending out my first yellow letter campaign. The letter arrived at the owners mail boxes last Thursday and the phone started to ring immediately, twelve calls on the first day.
After listening to a couple rude massages i started to find some nice people to talk numbers with, but no motivated sellers.

This afternoon i received a call from a very nice lady saying the she actually needs to sell not only one property but two. The properties a side by side in a nice residential area of San Diego.

One of the houses is 1080 sq ft and the other 706 sq ft both in very nice size lots 9000 sq ft. Both of them need extensive renovation. I have done the comps and checked all the number, no problem here, i think i am doing a good job avoiding analysis paralysis. I just have some things i am not so sure about.

What would be a good "guesstimate" renovation price p/ sq ft for CA or
San Diego?

Should i stick to the 70% rule no matter what? When do i go up and how high should i never go?

What would be a fair wholesale fee? Does anyone use a formula for that?

Average AVR $268.000

I am sending a offer in the morning.

Thanks