You may find more meat on the bone that way.

Having already analyzed the current market value and ARV, there was still plenty of meat on the bone.One good thing to know with foreclosures, even though the property is being sold in 'as-is' condition, you can still get credits from the bank.

Not far from me at all.To answer a few of your questions...Yes, a broker will hire you without any experience. 

One of the unit came with a security deposit that will be transferred to me at escrow.

Welcome to the world of Real Estate Investing and the many opportunities available to you.You made the first step in connecting on the largest social network specifically for the Real Estate Investing industry.Take the time to explore all the resources available to you.Networking is how to succeed in this space and as such I wanted to give you an open invitation to feel free to reach out to me at any time.I am located in the Northern Nevada market and doing buy and hold, wholesale and fix and flips… Best of luck with your Real Estate Investing Career.

I've heard that double closing is a good option for closing deals unless the buyer is ok with the wholesaler making a good spread as long as its enough meat on the bone for the buyer as well.

As a preface for my next post, I have read through this thread and realize that certain people involved are going to take out a snippet of what I've just wrote and completely ignore the meat of everything else. 

I am maxing out what he will give me at 2 properties at a time (approximately $400k). 

This property intrigues me and scares me at same time. 

Many out there simply make their meat off of fees and never or rarely make a loan.....indication of a scam. :)