Well, the initial numbers you mentioned definitely sound very good. True/blue wholesalers I feel should always have a hard-money lender in your pocket for taking care of the "proof of funds"/financing issue. In addition I also have $100 held in escrow by my attorney and has closed a lot of deals for me as I just never give earnest money up front. With a Realtor being involved then most probably you'll have to show $500 earnest money up front (still can be held in escrow) and in addition you still may be required to show financing set up.

Moving on, I strongly recommend not getting hung up on just this one investor. The deal sounds promising enough that many others would be interested in and really he/she knows seemingly as much about the pricing of the property as you do. With individuals I wholesale to that is all privileged information to me when presenting properties. I don't care if I have it tied up for one dolllar....that's my business and all the wholesale buyer needs to do is evaluate if it meets their buying criteria.

Just generally speaking from the information you've given me I'm assuming that you don't have a buy technique so you absolutely must have an "out" if your wholesale buyer doesn't like. In that case I would just inquire a straight option on the property stated basically in your contract to the effect, "seller allows buyer 30-day exclusive option to buy said property at $XX,XXX"".

Lastly, I want to stress something that I think is very important in that you don't want to be wholesaling houses that you don't have a legally vested interest in. That means signed contract with seller AND monetary consideration binding your agreement. Otherwise there could very well possibly be negative legal consequences.

Summing it up I would go for straight option on the property fulfilling whatever earnest money requirements that a Realtor would ask for if you think the deal is as good as it sounds. Also, build that buyer's list and expand your opportunities....YOU call the shots and take control of the situation.

Thanks
Scott