If you want to bid without due diligence I would offer low enough to have room for the unexpected.

If you buy a house to rent out you will inevitably need a slush fund to pay for the unexpected hot water heater failure, etc.Once you get a few wholesale deals under your belt you will understand the market better, have met a number of other investors(check out your local REIA to meet them) you can learn from, and better understand alternative methods of investing to move forward.Keep asking questions and reading posts on BP and you'll have a wealthe of knowledge.

(I spent $4,000 in repairs on my rental last year for an unexpected repair....it just happens and you need extra $ for that kind of stuff!)

Compared to getting something unexpectedly which creates a memorable moment.

These are oftentimes things that aren't obvious at the initial analysis.. like what's behind the walls.. and unexpected things that pop up.

If you stretch financially to make another purchase then come into an unexpected repair.

One thing you'll learn about RE investing - always expect the unexpected!

Any hangups or unexpected issues?

If you run into an extended vacancy or only a few unexpected expenses this could turn out to be break even at best--at worst it is an alligator.

.$300 cash flow doesn't leave you much room for covering unexpected expenses, for which there will definitely be some.