There's always the option of low-balling if you think the seller is asking too much and they may take a low offer if it has been sitting for a long time. 

Based on those values I would be willing to pay $40,349 to $29,199.I don't know the market cap rates in your area or your personal required rate of return but you seem to be in the ball park.Good Luck.Bill

If they are the least bit on the ball, they have the potential to slow down or gum up the development process.  

Understand why investors put seemingly low ball offers in. 

If nobody will play ball, then use private/hard money lenders for a year or two until you have the portfolio and tax returns to support bank loans. 

After a month of studing real estate and attending local meetings i feel like I am prepared to at least get the ball rolling but my question is, is there really any money in being a wholesaler and if any of you guys are in the chicago area can you elaborate a little more about the market here any help would be appreciated thanks 

My friend who I played college ball with has hooked me up with grandfather who is an established real estate agent who owns his own agency.  

(when there's a leak on a Friday,  it's pretty easy to guide a tenant through turning off a ball valve over the phone and waiting for Monday) I don't like galvanized or cpvc supply pipes (pex when i need to replace) Braided stainless supply risers. 

Long term, I would like to hold duplexes and houses for rental income, but I need to get the ball rolling and learn the techniques that will produce the bigger results. 

@Joseph CoxYes, I introduced myself to him as an investor, and listed some of the items from the BP guide that helped agents work with investors,without mentioning the bunch of low ball offers but I did say I would try not to pay asking price.And good point about finding a "local" agent who may know the market better.