A while ago, there was an agent who prevented me from buying a crappy deal.

Hard doesn't mean not negotiable and the entirety of negotiating a deal is hard anyway, it should be.

This is a clients deal and the 2nd property he bought through me using 5% down mortgages.

I am also interested in forming potential partnerships to structure my first deal or two.

Having to go back and forth to the property 5 or 6 times for things that could have been handled at the same time is rather annoying and that's not counting the fact the realtors have other appointments to get too or could have worked on other deals while the lender did what they were normally supposed to do etc.In my case I had an ideal deal that fit even their own requirement's, hence why I wanted to go with it.

Can someone PLEASE explain (in detail) how to calculate and analyze a wholesale deal?

I'm not sure what to do in this situation, whether to drop the deal and lose my earnest money or try to find another lender.

If you are looking to do this deal, I suggest looking at seller financing and then having an exit strategy to sell to an all-cash buyer, but personally, I would look at other deals. 

I have analyzed a few deals in the current market, but I have not been able to find a single one that will produce a decent cashflow. 

If so, what would you recommend would have made this deal better as an investment?