But on an 8 cap deal that's 5MM purchase price which is probably in the strike zone.  

Nearly everyone is interested in real estate, so it's easy to strike up conversation!

I've heard from BP podcasts that it's more important that I get in the game than have my first deal be a homerun, BUT I also don't want to strike out. 

Why not strike up a conversation with them about that? 

An ocean view Mediterranean-style mansion in Newport Coast is for sale where you can shoot hoops whenever the mood strikes.

This is our personal residence, but will be a rental within a year or two, so I need to strike a balance between reasonable price but still quiet enough that we can use it while we are home but still be in the family room and hear each other talk.No help from the stores so I am here asking the people who know.....    

It strikes me that with a 5k rehab and a 150k sales, you could have found a buyer (outside the bottom feeders at the club) who'd pay you 15-20k spread (I am not a wholesaler, so this is just conjecture).Did you consider various exit strategies, or was getting it done clean and easy the goal?

You need to keep at it and continue to strike quickly when a good deal comes along but please use the correct numbers and be very liberal when it comes to vacancy rates and repairs.

I’d advise trying to be striking distance from BART if you go Contra Costa county or Alameda county.

And, when presenting the offer to the listing agent or seller, be sure to point that out-- "I just wanted to let you know that my client isn't just pre-qualified, they are already fully approved for well beyond the full amount of the purchase--they are very strong financial buyers." 3) Consider outlining to your client the risks and benefits of striking some of the clauses in the contract to make it more attractive to sellers.