We just knew about flipping as a concept, enjoyed the work, and saw the potential. 

You'd be amazed at what you can learn from fellow beginners who are also hard working and getting started, and one powerful technique I frequently recommend is that people form a small group of folks at roughly their same level with the express purpose of meeting regularly and helping each other out, which you can read more about under the concept called mastermind group.

I think that will be a cross the bridge concept for me as well.

@Sebastian E. sorry, can't really respond informatively...but it's a cool concept.

Only recently have I discovered the concept of wholesaling and it has drummed up something in me.

Many people can not grasp that concept and eventually get analysis paralysis and do not pull the trigger.

The concept is that he would just assemble a custom trailer INSIDE the bank lobby, and therefore no build out is needed.

Would this be a reasonable way to negotiate (or am I completely misunderstanding the concept): Scenario 1: Seller decides not to budge on the 8% interest rate so I offer to keep the rate at 8% but to purchase the house at $125,000 in order for him to make his interest and keep my monthly payment low enough to have a high cash flow on the property.

Most investors in TO are dependant entirely on appreciation and have no concept of expenses going forward.

She had never heard of the concept and the idea of helping her could make or break the deal.  10K lower in price and now being able to sink more of her gains into the new property is a good idea.