We can't really do 70% rule here due to competition or else we'll never be able to acquire any properties.

Here's a blog post I wrote that gives you a couple tips on how to be successful as a wholesaler:http://www.biggerpockets.com/blogs/4430/blog_posts/32194-attention-wholesalers-2-ways-to-stand-out-from-your-competition

My market is ultra competitive and I find that getting sellers to take six figure haircuts is much harder to do than in other markets where the haircuts are five figures or less.

I think unless you are in an incredibly hot market offering a home for lower then the competition this many hurdles will lead to longer vacancy.I am not opposed to hurdles to screen out the unmotivated ones but this is a large amount of hoops that will definitely lead to decreased demand.It is a trade off.Your life is easier & you have much more timeButYour rentals will be empty longer.

Plus it's much easier to rank for them because the competition is much less.Happy Website Building!!   

We decided to put our rental on the market @ 2475$ to be competitive.

We work with State Farm because they are incredibly competitive under our umbrella policy.

@Jamie Jacobs I think if you learn the basics of wholesaling, and are consistent, and if your area doesn't have a lot of competition.

But again, that's only an estimate.Right now in Houston people are paying over asking price in many areas because there's so much competition.

@James Wise regarding price, I'm going to start with a rubric used to price billboards (traffic count, competition, visibility, my own online subscriber base, etc.) and then think about the potential growth over the years.