I think it is a good investment to hold on to, but I also want to be able to invest in something back east to live in, maybe a duplex.Here are some details: We could potentially rent our house out for twice the mortgage.

Not a lot of details but if this place has the potential of 3500/mo and they're giving it up for just 55k....it must have some serious issues that must be addressed beyond the scope of practice for a beginner. 

I understand the basics of wholesaling, but I am still stuck on the details of the wholesale process.

I was curious after watching a video from "Ron LeGrand", is it actually true that you could potentially sell a contract to a buyer, for a seller, and earn money from the not only the down payment but also monthly payments?

Check out the "New York Real Estate Investors morning Meeting" event for more details.

Feel free to PM me if you would like to discuss it into further detail. 

Again I'm a newbie as well but maybe share a bit more details and we can learn something through conversation. 

I will post a complete Deal Detail below.

The next best thing, if you don't want to invest in drawings this early, is to write out a detailed scope of work that your contractor can bid off of.

I'd record the video call and then look at it over and over to get a feel for repair costs and condition.By the sounds of it you are looking to find rental opportunities?