Example: 100k property with an offer of 60kI know that's a large spread of 67%What kind of earnest money?

There is always a sandwich lease / lease option if there's a spread between mortgage and rental rates.

You rent from the landlord and then sublease to a tenant while collecting a spread on the rents, price, and option fee. 

Step your game up new investors, don't get caught with a wholesaler who makes up bad deals, with high fees trying to hit a home run with no spread left for you!

They also spread out that tax hit on what they finance over several years if that's important to them. 

Build Relationships and spread the word with large/small multi-family brokers, property managers, contractors and lenders.

For instance, a lot of homes I come across that don’t need repair, I can get at a good discount, so there’s some spread there, but it’s not good for your average fix and flip investor.

You just happened to get the house below market value with a spread.

I have been browsing MLS and owner listings for various areas to gauge where to make my first purchase. I've also read David Greene's book on the subject twice. One thing I thought of on the way home from work today. ...

You benefit when you can make those two things happen with the biggest spread you can negotiate in between.