Potential DEAL! Please help

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Hey everyone! I have been reading tons of helpful information on this forum and reading books on real estate. I want to get started and take action. There is one SFH in the neighborhood that I stopped by and looked at. It seems like a great fixer upper for an investor. I would like know how would I approach this and possibly wholesale it.

http://www.zillow.com/homedetails/107-Spook-Hill-Rd-Wappingers-Falls-NY-12590/30145664_zpid/

Do I contact the real estate agents to get it under contract? Now the houses in that neighborhood go for around 200k-225. How would you guys analyze this deal? Say minimum ARV is 200k and max repair cost is 35k.