Anybody that achieves success strictly wholesaling, over exceeds the mental and emotional fortitude necessary be successful in most other aspects of real estate IMO.Wholesaling is NOT an easy task but with a definite purpose, a plan in action, determination and perseverance, it can be done and can be very rewarding.

@Dennis Wayne Your internal fortitude is impressive.

BUT, if you're doing it out of state, I would look in the mirror and try to figure out how risk adverse you are and if you have the mental and emotional fortitude to go through an out of state BRRRR as your first deal. 

Long term success rarely comes from luck, but rather having solid insights, performing necessary due diligence and most of all having the emotional ballast and intestinal constitution of a Battleship.

Third (and related to the last point) maintaining your fiduciary responsibility to 2 parties who are actively negotiating with each other - providing useful guidance and market knowledge, without breeching confidence - that is a high-wire act that takes grace and 'intestinal fortitude' to pull off well.Anyway - pay him 5% and make sure he earns it! 

Way to go on making it happen and having the fortitude!

I work with a lot of developers of raw land and as a general rule I find it is an incredibly risky asset that requires a lot of expertise, patience and (often) intestinal fortitude.

Not everyone has the fortitude to deal with student housing, not sure how you feel about that topic? 

@John Thedford  Well, I think the OP coming here and asking how to go about closing this deal shows some fortitude.

Cold calling SUCKS. lol Just make sure you have the mental fortitude to handle all the pissed off people yelling at you and hanging up.