Another tells me that it's just to hard to wholesale.I find properties, but the agents simply ignore me.  

In addition, you will better know the paperwork and strategies behind winning an offer on a property and receiving it for a better price than you would had before. 

I see this as a win win, I just need to pitch it right.The main thing I'm concerned about is objections I haven't thought of yet.

Hey @Eugene LeeAs a few others have said, you can go ahead and throw all those rules of thumb right out the window.While I'm sure they're applicable in some markets, I can tell you first hand that most, if not all, of the "% rules" you'll see mentioned on this site simply do not work in San Diego.What kind of property are you looking to purchase?

Do most people simply use the 50% rule and call it a day?

You simply can't do it.

I know they will take $2500. off my credit card if I due happen to win the bid. 

My offer was simply to let the guy know I was interested and his asking price seemed reasonable enough but nothing is concrete yet.

Im a licensed RE agent in Fresno CA, considering to bid for a property on public auction in auction.com, hubzu.com, homesearch.com. my question is.. for example, when I place a winning bid of 100K, and the property has a total estimated debt of 300K, does that mean I have to pay 400K for the property in order to get the title? 

They simply want to say yes, no, or demand changes.