Understanding the wholesale process, when to make an offer & afte

[Wendy Busa]

I am confused about when to make and offer and the inspection process.

I have heard, read that wholesalers are making offers, putting properties under contract right from the first phone call with the homeowner. Is this the norm? Being brand new to real estate investing, I am not skilled at figuring ARV quickly, also, I am very concerned about what if the property has asbestos, mold, foundation issues? Does the inspection contingency cover that?

Let's say you have an assignable contract with contingencies, and you have a 10 day inspection period, do I hire a contractor or a home inspector or both? 

I see the need for both of them, but that can get costly if there is a major issue and I need to back out of the contract.

Thank you.