Investor or not, it helps to verify information of this sort but people do rely on a Realtor's judgment of value to make a buying decision -- which appears to be what you did here.If the Realtor's estimated ARV is/was grossly inflated, they may have some explaining to do but only if you were to start asking some questions. 

So, if you can manage to pay the tax right now, this seems like a really powerful way to do RE investments with a retirement account.So, again, take this with a huge grain of salt.

I like your idea of weening off your day job so you can do RE full time.

We do have a chunk in an investment fund, but reluctant to put the rest of it in due to potentially wanting to use it to do RE investing. 

PM me if you need some clarity on what to do Re: when you get a property under contract

- It is totally doable to keep your job and do RE on the side!

I would not give up a very successful E bay business that you know and is churning money to then go into wholesaling real estate thinkning your going to make a bunch of money so you can buy multi.wholesaling has a 99% failure rate.. its expensive and uber competitive because there is no bar to entry.Not that your asking for advice but I would skip the wholesaling continue to make great money on E bay take that money and buy your income property... spend your time find great deals you want to buy and hold instead of starting a wholesaling business from scratch... why kill something that is working to start something that probably won't give you the result you want no matter if you learn it on BP or from Guru or a book or whatever... there is only so many ways to do RE.. not many ideas are novel or knew. 

@Faye Omar,Yes - we prefer to do RE business with those who we know have the same level of education.

At 80% LTV, the return is in effect 5X that return based on value.I am a fan of both stocks/index funds and RE, but I would not do RE if my return was not astronomically higher than stocks/index funds. 

I do RE consulting and could recommend a few people that can help you through the process so you have a realistic grasp on how "remates" work here.