We can always use another expert on site with your background.Care to tell us any more about yourself?

Other areas are rental ghettos and yet they rise in value because there is a shortage of housing.So, you need to really understand the economics of an area before determining what strategies might work.

I just recently recieved this, and I wanted to know from the experts if this is ok to use?

Commission is negotiable and you could try negotiating a lower rate (if you haven't signed a listing agreement yet).How is the economic environment of the surrounding neighborhood and are any zoning changes being considered?

As you well know, the foreclosure rates there are staggering and the city overall is an extremely poor place in terms of economics (mostly due to the highly incompetent mayor & his constituents).

On the flipside I've contacted a real estate expert named Judson Voss who told me that some banks don't like properties to be wholesaled at all so they won't allow anything except a realtor commission.

You should be an expert at that and not need any help.

Learn from experts (people who have become wealthy from that industry) as they know the true ins and outs, and can guide you from making the newbie mistakes.

We've got some great experts here in the wholesaling arena and I'm sure you'll find them to be a great resource as you start out.See you around BiggerPockets!

If there is a sale the IRS might have a claim on the property that has to be paid in full before the title can be released.Selling might be one step in a very painful process that has no economic benefit at the end.John Corey