But is does provide at least some basis for what seems to be "irrational" market behavior.

I'd use this opportunity to let her know this behavior is absolutely unacceptable.  

What rules govern my behavior as a borrower/business?

You can get into the business with low funds but it may be better to bird dog or try to assist an experienced investor to learn the business. 

Normally these wholesale deals are done personally seller to buyer without agents involved.This would be a bird dog finders fee situation if you can pull it off.You are not gonna get a full 3% or more commission from a wholesaler.Have you alerted your investor to the property and gone to see it yet?

There's so much information to process and I'm having a hard time deciphering what's what... but I do know that I would want to function as a bird dog, at this point.Can you guys offer any assistance?

Although many investors don't make a visit first, I consider that high risk behavior.  

Financial Knowledge and Decision-Making.While many American adults believed they were adept at dealing with day-to-day financial matters, they nevertheless engaged in financial behaviors that generated expenses and fees and exhibited a marked inability to do basic interest calculations and other math-oriented tasks.

See if they'd be willing to bring a drug dog out.

On your spare time you could go bird dog for a local investors and hopefully get a few deals out of it.