I was first introduced to Real Estate Investing by a person who focused (or pushed me into focusing) on shortsales. 

For a long time, I thought this was the only way to wholesale a home. But im learning thats not the case. From what im finding, some home owners are just "tired of their home", "in a financial bind and need quick money (regardless if they get the value of their home or not?)" and willing to sell wholesale. 

Am I understanding this right?

Could anyone give a succinct step by step process of wholesaling? I know it can get complex but im trying to understand the order of things. A lot of people make it seem like this:

1) see obnoxiously grassy lawn

2) knock on door

3) see a visually distressed owner

4) ask if they want to sell their home

5) they say yes

6) get them to sign a contract for me to acquire their home for 30% off the value

7) pitch to buyers

8) sign contract to buyer.

9) send docs to title company

10) receive cheque...and BALL OUT/ReInvest lol

I feel like this is partly true but maybe missing a step or two. Let me know your thoughts/advice.