@Luis Rivera Since every situation is so different, I feel that as a bottom line, you should negotiate terms that are a win for you, and a win for the seller.

I think someone experienced who doesn't want to mess around with bids can make it a win-win.  

Win-Win for you, the other agents, the broker, and the seller.Now if you want to play games like a lot of wholesalers who don't have money to close, then your broker may not want to sponsor you if you are going to contract on deals and not perform if you can flip the contract to someone that does.

It sounds to me like a win, win,win which is why I have done so many of them..

I'm not martyr I just look to make win/win situations. 

This is a win/win since he gets 3 for listing and he and if he sells it himself he makes 4 and I save 2. 

My question now is if I bid and become the winning bidder and am able to pay off both liens will I become the owner of the property, or will I just own a 2nd lien and have to wait to get paid back.

Either way, you win!!

If you want instant buyers that are ready to go now, your best bet is to join a team that has an ISA.

Without going into too much detail, I hope to get at least $20k in instant equity because I won't bid any higher than that margin and assuming minimal rehab costs because I've seen interior photos.