Is it 'simply' a matter of reducing even more the max % of FMV you will pay for a property and then when re-selling, price the property below those in the area to help get a quick sale?

Another is that the amount of due diligence is reduced, since wholesalers tend to do a bit more research since its their neck on the line, thus allowing you to do more deals in the same amount of time.

You can reduce the rent but hey you can't give them away.

Should I reinvest it all along with what I started out with, or do I pay off some personal debts to reduce my overhead, so that life on irregular pay becomes more easily manageable (I would still have what I started out with to keep investing) ?

The logic being I do not want to reduce the repairs and other costs by the percentage.

After reducing the price further do you really think any of them will still be interested in your low offer which is now even lower.Worse case scenario of not looking at the house and without knowing of any repairs; you usually need carpet, paint, maybe tile, updated fixtures, maybe crown molding, maybe alot of things actually.

What if I could reduce that purchase price to $135K?

That would be the new loan amount at $42,000, and reduce the cash out to $15,700.If the rent supports the loan amount, and the $26,300 includes both purchase and rehab, this may well be a good deal.

You get 4-5 inquiries on your credit report and they think you're about to file for bankruptcy.Also, banks take off 25% of your rental income reducing your net.

If you find a property that has tenants in it and the owner is charging what is about the going rate in your city, it's very unlikely that they will somehow be willing to reduce the price by 30%.