I would expect a homeowner to pay at most 50-100% more for retail, which is still well under the $50K range they quoted for a "mid-range" kitchen.Maybe I need to revise my definitions of mid-range and high-end :)

Wholesalers usually don't flip contracts to a retail buyer, your buyer should have buying experience, assign your contract and get out of the way. :)

Seller took out a second mortgage a few years ago and owes 15k on it.I would like to set up a wraparound on the first mortgage for 120k, Seller can use the equity on this deal to pay off their second mortgage.I would like to set this up and flip the deal to another investor or retail buyer with bad credit and some cash.

It sounds like the seller is looking to get retail (i.e. market) value for this property; that being said, why are you only researching recent cash sales?

I came across the the following interesting articles (note - the author paints a bleak picture of economic environment).Interesting article about how banks are doing sub-primes loans again:http://www.zerohedge.com/news/2014-04-22/mortgage-standards-are-plunging-%E2%80%93-it%E2%80%99s-muppet-fleecing-time-all-over-againAn article showing the decline in existing home sales (except for the rich):http://www.zerohedge.com/news/2014-04-22/spot-massive-depression-and-tiny-recovery-existing-home-sales-chartWhat are peoples thoughts?

the saddest part is that several of the 60 will drink the koolaid and pay the massive stupid tax!

I plan to work my way into retailing once I have a good financial base and more experience.

In my view, a wholesaler is someone who has little desire to deal with retail buyers.

In California selling an LLC is a massive pain and adds an additional $800 cost. 

Within those structures I'd like to build with community in mind - E.G - purchase older 6 story facility a block away from downtown, repurpose to meet energy spec, convert to vertical farm OR mixed use property for 2 floors of condos/2 floors coworking spaces/2 floors retail and attract quality small business tenants to enhance neighborhood.