Things like mistakes to watch out for, things that I can do beforehand to speed up the process, taxes, fees, is it complicated, etc.?

I teach my clients to have all the expenses on auto withdrawal  ( mortgage payments, monthly assm, if needed: tax and insurance) and have the phone number of few handymen on speed dial.

Lock box going on today, and a rehab investor walking it minutes after :) I Told myself a month ago by the end of the year I would wholesale 2 homes...I think that goal needs to now be adjusted ;) I'd like to give a big thanks to my mentors Jesse Burrell, Jared Vidales, and Brian Roberts of HighestCashOffer.com for bringing me on the team and teaching me so much everyday.

I am a property insurance adjuster during the day.  

Not only does this create a less fearful first contact environment for the seller, it also helps you qualify them before getting on the phone and best of all allows you to capture their phone number even if they don't leave a message.Although not directly related to finding the deals, I would add that in any highly competitive area speed and personal touch can make a huge difference.

To have an offer accepted, one may need to adjust their Desired Profit; however, it should not be below $20,000, or what one feels is acceptable.

Without trying to be insulting, it is pretty small potatoes if you adjust your selection practices a little bit.  

The rates adjusts after 5 years.

You'll have time to adjust and refine your business as you go along.Another recommendation is to become active in the local REIA's.

My Broker determines whether or not there will be an adjustment to the commission cut that he gets.