His book does not say "do exactly this" (in fact he explicitly states the opposite), it emphasizes "understand your market" as one of his four pillar thingies.

I can't emphasize enough.

I emphasize this with my kids all the time, like Apollo 13 What does work?  

I completely agree with @Joseph Rice and would emphasize knowing your market rents.

Many of the podcast that I listen to emphasize professionalism and the positive aspects wholesaling can provide for all involved parties, including the sellers.

Probably And I emphasize "probably" a sand, stain, and poly will take care of thatI've never encounter this issue before 

@Holly Scott , True, when an agent sets up an "email alert" for you, the software usually blocks the selling agent info, and substitutes/emphasizes the "sender" of the email alert.If you've ended the "buyers' agent" relationship, you might just set up your own email alerts via Redfin.com You can there see the Seller's agent within the ad, likely google them and find a phone #.If you're going to be big time REI, consider getting your own license someday and be your own realtor?

I can't emphasize the importance of this step.  

The scope of that project was very similar and was $110,000, but he emphasized that there were multiple issues with that particular property.

Just keep it simple and be patient.I also went to college, not that it is mandatory, and I got a business degree that emphasized real estate.