I would make sure that your other policies are competitive.

It's a great way to see what the competition is up to!

The market seems having multiple price reduction with listings, less offers, not as competitive as before, and more and more inventory on the market yet no buyer.

I've done a detailed competitive analysis and nobody on the market has the sq footage, washer dryer hook ups and is charging less than $650 plus $30 RUBS.

I like doing this type of deal because it scares away a lot of competition, meaning that a motivated seller has to negotiate with ME, because I might be the only one to negotiate with.You will need to build your own realistic pro-forma, plug in percentages if you don't have actual expenses.

Also, here's an article I wrote on how to stand out as a wholesaler - might be helpful as you get going: http://beta.biggerpockets.com/blogs/4430/blog_posts/32194-attention-wholesalers-2-ways-to-stand-out-from-your-competition

KC seems to be really competitive for those houses.

Shop the competition a bit and get a feel for rents and quality of properties.

I definitely heard that.Much more competition than before.There are a few guys in town buying up.Thanks.

I wouldnt do it, its a pain in the ***, you lock in a price too early, and you let someone dictate finishes and timeline while cutting out competition.