Potential FSBO Wholesale Opportunity in Richmond, VA

[Gabrielle E.]

I was driving through my parent's neighborhood in Richmond, VA and I noticed a 3 bedroom, 1 bath, 1920 sq ft property with a For Sale By Owner sign in the front yard. I stopped to take a look around and I noticed that the property is vacant and it looked like someone is currently flipping the property. I called the number on the sign and spoke to the owner. She purchased the property in September (last month) for $80k, she flipped the property, and is now trying to sell for $175k. She seems motivated to sell, saying that she needed to sell the property yesterday and I'm the only call she's gotten about the property so far. I did some research on comps in the area and I can see that her asking price is too high based on numbers in the neighborhood. I'm wondering if this could be a potential wholesale opportunity where I could help this woman get the property off her hands by selling to a buy and hold investor within an accurate price range. Since the property is renovated, I'm thinking $155k is more accurate range based on market comparison but of course I would have someone take a look at the property to determine the true value. She may not want to budge much on price at first but perhaps as time goes on she may start looking to get the property off her hands quickly. This could potentially be my first wholesale deal if things play out in my favor. For example, I could do a double closing for $160k to a buyer and $155k for the seller so that I would profit $5k. The numbers may vary based on how much time has passed. The profit in my example isn't much but it could be a good learning experience and an opportunity to help if this woman gets into trouble trying to sell. Does anyone have advice on whether this is a good idea, ways that I can set myself up for success with this opportunity, or any insight on whether this is worth putting my time into?