I used to rely on foreclosures when I first started out but have backed off of that dramatically.  

Always do a rental agreement, this not only sets expectations for guests but is a legal document that can dramatically reduce time in court if it goes that way.

You may want immediate cash flow to lower your immediate cost of living.You may want to build a portfolio to add to your retirement later in life.Or you may want to speculate and purchase properties in areas that you think are poised for dramatic growth in the future which will return huge equity gains.

I have an MBA, but many investors I know have much less formal education and dramatically greater results.

What we do is create artificial scarcity through land use controls, which buttress prices virtually everywhere and cause them to escalate dramatically in some places.And example.  

No offense intended but anytime someone who likes to be overly dramatic or being flamboyant reminds me of Sarah Bernhardt.

Even just from a couple years ago prices have increased in a lot of areas dramatically.

You have just broken the ice and developed a contact in the area.3) Your game plan for wholesaling does not change dramatically when working with a Realtor, which is why it will be very challenging for you.

Also, if I put in an offer with a short option period to do my due diligence, such as 7 days or so, is that dramatically going to lower my chances of an offer getting accepted?

But even with what the guru's are promoting as wholesaling (I have some limited experience with guru's), it IS a viable way to generate short term capital and dramatically increase your network with little or no starting capital or credit.Now I can't speak for what all guru's are pushing, but I have been to one seminar and seen intro's to several others on wholesaling, and my experience is that they aren't promoting anything that can't make you money just as they are advertising.Now as for the 3 times over wholesaled house, I can understand your frustration.