When this is measured and compared accordingly this can be become a six figure matter of difference.  

I had more than on contractor borrower of mine that finally figured that out got enough equity from relatives and now they are doing quite well and no way we can compete with them.but you start moving up north of 750k to purchase and unless your in the Bay area or prime LA  that does knock out a lot of competitionand you also have to remember this poster is paying CASH  HUGE difference as she has no cost of capital most of us need to borrow and if your borrowing HM which 95% have to as banks really don't service this niche ... her carrying cost ona say 700k project would eat up 20 to 30k EASY.. 

I figured this is what you meant, but just wanted to make things clear for everyone.

I'm not sure how many of my buyers would go for vacant lots so I figure it has to be a smoking deal to wholesale.  

You just have to figure out how to leverage it and to use your 700 horsepower personality in a profitable way.

He believes in solid companies like power, steel, etc, companies with a history of profitability and reserves in the ground figuratively or literally, depending on the industry. 

I'm trying to figure out a fair way to split deals with my son.  

Focus on the useful information.So you have already figured out your cost of funds. 

So at first let's try to figure out NOI sufficient to make this deal worth buying:TRICK: ON HOW TO FIGURE OUT NOI IF NOT GIVEN:At Asking $1,700,000.00  with( 20%) Down Payment is $340,000.00  And (80%) Loan is $1,360,000.00At 6% Rate factor your annual debt payment should be $81,600.00.

Don't take 1 week to figure out what to put on it, it can be as simple as a a random house icon, your own name, google #, and title of "Real Estate Investor".