I'm doing an assignment for 399k given the dimensions of the SFR, the size of the lot and the property values in the area there are very limited comps, current ARV is 500k+ it needs 10 to 15k for a basic cosmetic rehab, however the updated properties around the area have sold for 700+ so the potential for profit is there...ISSUE: I've reduced the original price and a few investors have gone by but the main thing that comes up is the exposure to a popular street (for the locals, It's on the corner of Shea Blvd and 61st St).

if you can rent it and hold it for a year you will substantially reduce your tax liability on the property.

Although, most wholesale transactions tend to be houses in need of rehab, just because that creates a big motivation for the seller and/or can prevent them from being able to sell the property retail via a realtor.As for "using the house as collateral"... 

A recently trending thread started by @Brandon Turner discussed accepting section 8 from an existing tenant but having to accept a reduced rate as a consequence. 

would this still prevent me from getting my own agent?

People are polite and won't tell you these things unless you pull it out of them or let them know it's okay to say how they really feel.Once you get this data you then reduce your house list price and remarket with a new price.

Lots of other things you can do to reduce even that, such as having a self directed 401K.

The exit value quoted was accurate and after some negotiations on my part, the price reduced down to what made sense for me.Deal closed today and I will update you all on the progress of this flip.

Is it common for a landlord to negotiate the cost of rent to a tenant , For example say if a landlord has a property on the market for $700 and the tenant asks can the rent be reduced to $650 will a landlord consider changing the monthly rent cost?

You are reducing your diversification, but ideally gaining efficiently and scale.