However the stuff he sends me is generally 7-10% cap and on the 'retail price' end.

If you are paying retail and only looking on the MLS then i could understand.

For example you haven't bought 3 industrial properties in the past and are now buying retail??

The only problem is most of them seem to want retail value for their properties that have been mostly Rehabbed already.

If you're going to squeeze every penny out of the deal then you've pretty much defeated the purpose of wholesaling and might as well move into retail. 

@Daniel Ryu   What you are referring to is often called  "wholetailing"The owner doesn't have the funds...you have the contractors....you put a lien on the property, do the repairs and then RETAIL it, and you all take the proceeds and divide them based on the contract you have. 50/50  60/40  whatever. 

Are you looking to flip to retail buyers?

Sometimes the auction fever drives prices to retail or more.2. 

But that left a good "taste in my mouth" for real estate, as the equity I ended up cashing out with was pretty good, even with doing everything retail.

I think that is a smart decision you have made, I am really interested in commercial (Retail, not residential) Since that is what my parents have always invested in, that is what I am most comfortable and familiar with.