New to wholesaling , any recommendations ?

[Julie-Anna Thao]

Hi ! I have been introduced to wholesaling and have been doing a lot of reading and listening ( I got introduced to Todd Fleming's book ) about how to start . I am located in Davenport , Iowa here and found a title company that handles double closings and assignments of contracts in my area . I've stepped out and called about a property however my concern is that I don't have much of a buyer's list . I've found a couple but they are all out of state looking to buy somewhere near them . 

The property I called is a foreclosed for sale by owner house and needs an average rehab ( painting , new carpets , kitchen ) . The property manager asked to put down $1000 EMD right after the contract gets signed and because I am starting with $0 and don't have a buyer to assign the contract to , I feel like I would need to back out (even though the contract isn't even signed yet) .

The property manager also mentioned about selling on a quit claim deed , what is that ? If I continue with this property , because it is foreclosed , would I still be able to assign ? Or would I need to double close ? ( I am a bit confused as to whether it is a REO property or not ) And do you guys have other title companies you guys can refer me to ?