Average wholesaling markup

[Matthew Haussmann]

I am looking at a property being sold through a wholesaler. Technology being what it is, I was able to find the owner of the house and the actual contract that was signed between the owner and the wholesaler. Here is where I need some feedback. This contract is for $40,000. The wholesaler is marking it up to $65,000 (roughly a 62% markup). Is this normal? Ethical? Anywhere near decent? Any input would be appreciated.