1 - If you aren't wealthy, start with Options and Subject Tos.

When determining ARV I often face a conundrum with the subject property given the variance between houses in good condition, vs flips with high finish out.Lets say these are all comparable properties, brick exterior 1,500 sq ft 3/2/2Comp 1: Sold for 149 well maintained houseComp 2: Sold for 150 some minor updatesComp 3: Sold for 165 flip high level finish outComp 4: Sold for 166 flip high level finish outOur hypothetical subject property is the same as the comps but our exit strategy for it is a rental.

The last conversation I had with my attorney on this subject was over 5 yrs ago.

I have also learned that values of properties are widely subjective and viewed through multiple means of valuation.  

I am a newbie wholesaler and don't know much at all about subject to's and wraps which I assume this deal would have to be. any insight would be appreciated.

As far as a clause to get out of contract, Subject to partners approval is one I put in contracts.

Many members have keyword alerts set up for their city, types of property, and other things they want to be notified of when they are being discussed, you may want to do that too.Also, I added Chicago to your subject line, maybe that will help you.

Bare in mind what a contract fee is worth in the market of the Subject Property.  

Orange County will not be subject to same level of market volatility as other areas due to the simple law of supply and demand.  

If so, have them put together some comps off the MLS for you where the subject property is located.If not, you can try the town assessors office as mentioned above.Get concrete numbers though before proceeding.