How to wholesale to buy/hold investors?

[Rickie Natividad]

I'm a new investor who is looking to wholesale and beginning to receive a decent response from my first mailing of yellow letters to absentee owners. Not surprisingly these leads have been from landlords looking to be free of their rentals. Here is a recent lead that has come in. It's a 3/1.5 that is currently rented for $735. There are 4 properties in the subdivision that have sold since September. All cash transactions from 49k to 72k(2 around 50k in similar condition to the owner's property) 

I don't foresee this being a standard wholesale deal that I would offer to a rehabber, so I'm wondering how it typically happens with a wholesaler working with a buy/hold investor. Is it unusual for landlords to buy with cash? I've punched in some numbers for if the property was bought for $52000 with a conventional loan and an investor decided to renovate lightly:

Purchase Price - $52000

20% down payment - $10400

closing cost - $3000

Renovations - $3500 

Annual Rent - $8820

Debt Service - $2470.44

Tax - $920

Insurance - $400

vacancy - $441

repairs - $441

property management - $882

According to those numbers I am calculating 1.41% rent per purchase price, $272.13 cash flow, NOI of $3,265.56, cash-on-cash return of 19.32%, cap rate of 9.81%. The tenant is renting on a month-to-month agreement so rent could be raised to 800(common in the area) to improve those numbers.

Do these look like decent numbers that a buy/hold investor would look for? I have been trying to figure out how to work as the middle man between the seller and other investor in a situation like this. Would I offer 48-50k to the seller and try to assign the contract for $2000? Please excuse my inexperience.