To Know if you have a good deal you can wholesale follow this checklist:
Can you buy the property for a minimum 30% under value (preferably 40% or more) ? Determine Minimum Value with comparables.
Is the property a single family home, duplex, or triplex? It cannot be a commercial property, land ( you can wholesale land but this forum is not focusing on that niche) or a pre-construction project. Apartments have home owner's associations that are too complicated to deal with for wholesaling.
Is the property in a residential area? It cannot be located next to businesses, the airport, or any commercial structure. It needs to be a house somebody would want to buy, otherwise you will never flip your contract, or make any money, even if you have found the best deal ever.
Is the owner motivated to sell and/or facing financial difficulties? Don't take advantage of anyone who has backed themselves into a financial problem, but present yourself as a problem solver.
Is the property deeded? Non-deeded properties will lose value over time and no investor will be interested in buying your deal.
Can you do an inspection of the property before putting it under contract?
Can you get an agreement done that leaves you adequate time for closing? (as you are starting out you want to give yourself at least 30 days, but as you get more confident and have more buyers in your buyer list you can make your offer more attractive by offering a faster closing)
Are the repairs less than 20% of the market value of the property, in it's repaired condition?
Will the repairs take less than six weeks to complete?
Do you have a written bid from a professional for repairs?
Are comparables in the neighborhood selling in 90 days or less?
Would you live in the neighborhood?
Is it worth it for an investor to buy this property, fix it up and try to sell it, or rent it out?