Wholesaling how to not get stuck?

[James Anderson]

Hello guys, I started the BP podcast in August and its been a daily thing.  I am interested in buy and hold rentals but my wife and I were walking in a very nice area of our city of Hollywood Florida.  And found this shell of a house.  I'm thinking I'd like to offer and wholesale this for someone who can rebuild and flip this property.  And I feel too inexperienced to take on a flip like this but this could benefit someone on BP here.  I don't know much about wholesaling and would like to know:

1) How do you get the deal?

2) How do you avoid getting stuck with the property. 

I am contacting the listing agent to find out more about this address.   I looked up both neighboring properties both were valued at $650,000 this is an area that has million dollar homes and is very close to the ocean.  

What are the right questions to ask the listing agent?   

[Amanda G.]

Hi James,
You are learning to get an eye for deals. From what you say, this is a deal for someone, but probably not the deal for you because you don't yet have the experience to know how much repair will cost. A good place to start is to walk through as many properties as you can, and learn from experienced people how much various repairs cost. If you start with a shell or a burnout, you will learn a lot of expensive lessons early, and they might be costly enough to take you out of the game entirely. Starting with a paint and flooring house is a gentler entry.