Hi, I found a foreclosure deal in my area which is selling a home for $29,300 by  the bank but home sold for 100,000 + in 2006, area is idea for buyers who rehab and use as rental property and average rent is about $850 in the area and very popular....as a newby trying to wholesale and resell to an investor who will triple their profits what is my best approach?

Do a quick survey of whats popular with renters in you area.

its very hot.. but profit margins all in all are thin when taken as a % of the gross project amount.But houses also sell in 1 to 5 days.. if they are in the major metro area.We have a huge play going on now .. of tear down and build McMansions.. not really McMansions but little 1920 bungaloos are taken down and two story period homes are built ( PDX 4 square) being popular.. and on corner lots you can do a common wall and get 5k sq ft in two homes on a 4k foot lot.. and the homes will sell for depending on which blocks 450 to 750 each.

Problems may arise with figuring out actual current rents, also we may need to evict the current owner who is foreclosing.  

Sometimes our eagerness to fill a unit arises suspicion in others.

we try to pic colors and finishes that are less trendy as not to date the properties, I have a couple of properties that I built in late 90s with pickled cabinets and coreian counter tops that were really popular at the time, which cost more but rented higher at the time but not enough to overcome higher cost, others I did were simple had white cabinets with laminate tops, but now they rent about the same, but we do get a lot of negative comments on the pickled cabinets so I do my best to stay away from trends.  

Turnkey is what most investors do for long distance investing.Do a search on the term "Turnkey" One of the most popular topics on the site.

Cedarmill is the most popular but most times they can get whatever you need in a week or two. 

Lucky for me a rising tide lifts all ships and even though I've made a ton of mistakes along the way I still have a chance to start doing things right.  

Yes, planning the trip is a must and will i'm looking forward doing so already.I'll update you with happenings and issues that may arise.