Might this be a good deal?

[Mason V.]

I have a potential seller for a 4bd 3ba home that is currently being rented. As it stands my numbers come out to be:

299,200 FMV
179,000 60% FMV

333,000 ARV
233,000 70%
200,000 60%
293,500 (subtract 40k from ARV for suspected rehab costs as stated in http://www.biggerpockets.com/articles/863-the-basics-of-wholesaling-for-beginners)

Assuming he is willing to sell, this seems like a potential good deal for me. Should I proceed and if so how?

This will be my very first lead so even if it falls through, at least ill have learned something.