When this happens to me  you have to tighten up your criteria. 

One of the first things that happens when a downturn hits is tightening in lending/credit. 

In the last recession, did any of you guys have a 1st lien equity line of credit that was frozen due to the credit tightening from the banks?

It's tough as the market has tightened up in many places.  

Learning all of that ahead of time will save you a bazillion headaches and potential financial strain later!

You would need to tighten up your numbers as the $50-100k rehab is a huge spread.if the person wants $300k and you're offering $127.5k max, that would be a tough sell and one reason why wholesaling is so hard. 

If you haven't acquired previously, caution not to attack on multiple fronts right away...one at a time, learn from it and improve as you go...we are 1000% better equipped to acquire from the prior experiences...they do take time after acquisition for dust to settle and for you to see the effect as well as what strains it puts on your existing processes and infrastructure. 

It can also be brutal, and put incredible strain on your marriage.

Corrected utility billings, implemented conservation efforts, such as replacing all exterior light fixtures, tightened policies and increased curb appeal and remodeled office & interiors.

Banks are definitely tightening up their lending.