I felt my offer was low enough to be realistically out of buying range, but not so low that the broker felt like i had totally wasted his time.

I don't want to do it too far in advance if I'm not looking to invest anytime soon, I feel like I will be wasting his/her time.

Also I try not to have delays because wasted time will cost in the end.

why as a wholesaler would you want to put homes under contract with all those liens on them especially if that kills the deal You wasting the time of buyers and sellers The liens are very common in this business Jyst trying to help other people to not just waste time saying we going to buy with cash if you don't know the house will close or not This is what causes wholesaling to get a bad name in my area If you are going to do this as a business it would be nice to know if it will close before lots of time is wasted on a deal that will not close I look at wholesaling different because I don't want to show my buyers a house that might not close I want to know it will close The wholesaler told me he did not know Lots of buyers I talked to in my area since have complained about wasting their time looking I am just posting this because it makes cash buyers irritated if they waste their time looking I like being able to tell my buyers title search done and they can close It cost 130 to do a title search This way part of the work is done when we go to closing at my title company I'm not being critical, just trying to give insights to other investors in my area and what happens when you just put houses under contract

There is free guide to in BP the ultimate guide to real waste investing.

I have never flipped a home or done this before so what are some ideas to minimize the capital gains on the 40k?

Even though your intentions are good and you're serious they have no way of knowing your not just wasting their time. 

@Ian Walsh  my only heart burn with wholesaling as a whole is its the province of mainly total beginners that waste an inordinate amount of time..

I've got a deal right now with a seller super motivated by speed, by contrast, that hid things from me and it wasted three weeks.

The house was in deacent shape and needed upgrading and minimal repairs,(estimated at $30k).