Will gladly accept good advice from the community since I am new to wholesaling and have no contacts yet.Thanks!

Even some who do it exclusively.

I was thinking of accepting the offer with stipulations that if the home doesn't sell by X that the builder pays me out at a pre determined amount and takes full ownership thus giving up my % of profit (but I would still collect my wholesale fee).  

Also the person handling the estate is dealing with her lawyer and I dont think her lawyer will advice her accept the contract that says "Assignable".So what I do I ask the buyers- rehabbers to come with me to the appointment and they do all the negotiations.

They will be able to help you write an offer that is going to have a shot at being accepted by the bank, and they will also be able to explain all the hoops you will need to jump through in order to successfully close on an REO sale. 

Assuming the wiring is Romex, any burned sections will have to be replaced if the rest of the house is acceptable.

I didn't capture them all during the exclusive presentation. 

I also live in Dyer and I just got an offer accepted on my first investment property in Griffith.

However, we are willing to accept a much lower amount of cash flow than others have stated.

Has your offer been accepted already?