Ours are not contingent upon appraisal among other important tweaks. 

Is ARV always more important than the bottom line numbers??

The questions I have:-Is it more important to get the experience of getting my first flip done than to accept the $50k wholesale deal now?

This is important because our properties were appraised with commercial land sale comparisons, in addition to residential home sales.Anyways, my focus now is on how to best use the settlement in regards to taxes and investing opportunities.

However its is also important to consider operating costs and income. 

Your relationships and reputation with other agents is incredibly important to your business.

I was listening to episode 275 of the bigger pockets podcast which was an eye opener as far as having appropriate leases as well as the importance of speaking to an attorney to make sure I’m being compliant with local laws. 

The most important step in your endeavor will be adapting to this plan and all the changes that come along with it, depending how tight you want to get with your finances.

One more through as I hit post, the structure of the financing is going to be very important and will determine how good the deal is.  

Most important things to learn with getting started are realistic expectations for rate of return and expenses and working out financing, after that the rest is fairly basic.