I know CO is expensive but being able to be physically present in a market is a big advantage.

@John Lindley  1)  get a HELOC  in place for the max amt  you can  on present home while you still live in it  2) consider a conventional loan versus  a FHA loan  as  your down payment can be  jsut  as little  ...you can avoid the FHA UFMIP fee of  1.75%  and your mortgage  insurance isnt  permanent ....kepe in mind if you use the  HELOC for the  down payment - this  heloc debt  needs to included in ratios   ...if you need rental income on home you are moving from to  help  on qualifying   - you will need an actual rental agreement in place 

But if you think PM is right for you, you have the skills to manage people and properties and the opportunity presents itself, jump right in!

To be successful with presenting that I would have a packet or creditability book that helps to show your a serious investor that has the capacity and plan to manage a property like that.

P.S I tried googling this, but it seems most of the content around wholesaling is focused on marketing/driving for dollars, etc but not how to close the deal.ThanksGee, And they say too many wholesalers are inexperienced, lack knowledge, and present a danger to unsophisticated and desperate homeowners. 

If you present it to them as a choice between getting the price they want or the terms they want they will probably be more willing to negotiate and will still feel like they have agency and are not being strong-armed by you even though you will be getting what you want one way or another. 

Based on the numbers you have presented, your COC return is 1% which is far too low for the amount of equity vested. 

I will try and locate a duplex with renters already present.

Specifically I am wanting to talk to sellers and present them with terms I am willing to pay for their property.

I'm not sure she gave that same insight to the seller's agent to not only present my offer but explain in a sense.