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"... 

If he is really a motivated seller he also might be more willing to carry a note.  

That's where the motivation factor comes in.

It is then another few hours that go by before I get a text, not a call, back.So basically I should expect more than just an MLS listing.  

I get it, I'm opinionated too but can we err on the side of motivational/encouraging?

I became a motivated seller and was able to sell it without going through foreclosure but I lost all of the equity and savings I had built over the previous 15 years.

Congrats @Arary McGowan  this is extremely motivating to me as I'm new to Real Estate and looking to become a whole seller.  

It's possible, if you find a motivated seller, but typically those low priced houses have problems that need to be fixed - otherwise they would just list them with a realtor and get top dollar.

If you are talking about buying bank owned properties, why don't you get yourself a good agent that you can write all your offers through, he/she can get all your paperwork from you, proof of funds etc, you sign a bunch of blank purchase agreements without the specific property on them, you can call email or text your offer to your agent, and they can fill in a couple blanks and submit. 

Hello all, I just moved out of the El Paso, and have been contacted by a seller there who wants to purchase one of my properties. She has a condo that she inherited and would like to move it prior to purchasing my SFR...