Dad (has cancer).. so, didn't want him to get shocked, you know?

I am actually a little shocked at the Central Indianans that are on here.

DON”T listen to your friends that will be so concerned for you: “don’t you think you should keep working just until" …. ”Are you crazy, you had a great job”, “why would anyone want to deal with tenants, they don’t pay, the roof will leak, the water heater will go out – I’m shocked you would take such a gamble with your family”FEED off these people, just know when you hear these things you just put the gold medal around your neck!

I would be shocked if 5% of people who decide "they are going to become a wholesaler" do 5 deals, and I would be super shocked if 5% of people who try to do it ever get to the point they support themselves full time as a real estate investor (either wholesaling or wholesaling + rehabbing and being a landlord). 

The deal looks like this:Loan outstanding: $244,000 QuickenLoan and it is a FNMAOther debt: Base on my preliminary title search $0Equity: $85,000The owner wants $350,000 based on a recent comp in the area.

@Natalie Kolodij-- the appraisal price shocked me, but it's because it's such a large 3/2 full baths, the majority of the houses in Petersburg are around 3/1, 1000 sq ft ~60K, but the appraisal had to go to neighboring counties where the values are higher.  

Set your standards first and religiously stick to them dropping all applicants that do not immediately pass the preliminary requirements.

This is all preliminary; However the number you arrive with in number 5 would help me gauge if this is worth looking into further and exploring if there there is value add opportunity based on:  a.

All I really need is the purchase price, rehab estimate, and estimated ARV to do a preliminary underwriting.

I haven't used HW, but I can give you my thoughts on your other questions.I moved to the Cleveland area this past summer from a pretty expensive part of the country (Triangle area of North Carolina, and before that Virginia), and was shocked at investment property prices here.