This is not all that unusual, even though you're on the title.

Not unusual that time of year to wake up with six inches only for it to all be gone by the end of the day.

These are the best books that I've found for beginners for fix-and-flip and wholesaling:------------------------------------------------"FLIP: How to Find, Fix, and Sell Houses for Profit"Rick Villani and Clay DavisISBN-10: 0-07-148610-0ISBN-13: 978-0-07-148610-1"Getting Started in Real Estate Day Trading"Larry GoinsISBN-13: 987-0-470-41862-8 (cloth)------------------------------------------------As for earnest money deposit, it's not legally required for a valid binding contract (EMD is a deposit not consideration), unless the parties specifically agree in the contract that EMD is required or there is an unusual situation like California pre-foreclosure of an owner occupied home (in that situation CA law requires a nominal cash EMD of about $100 if I recall correctly), and some other states have some inane consumer protection laws regarding pre-foreclosure of owner occupied homes.Having said all that, if you are buying from a For Sale By Owner (FSBO), then I suggest using a 0% interest promissory note for the EMD, that is redeemed upon completion of the inspection period or upon contract assignment, whichever occurs first.

That's not unusual.

Then you make adjustments based on size, condition, features, location, etc.If you're dealing with a unusual property, you may have a good time finding comps.

That takes time and money.It would be a very unusual hard money lender who would lend for a note.

Hourly rates are guaranteed to cause you problems.Now a "money partner" arrangement isn't unusual.

He did make probably 7-8K with little work, but he told the story because it was unusual and he got lucky.

Not unusual to use different approaches for each of those.

MichaelI understand my situation is unusual.