How much Equity?

For a regular wholesale deal to work, what percentage of equity is needed? I’m going to try and answer but I would like feedback. $100K house with no repairs, 35% of equity is needed correct? Therefore I would be able to offer the regular MAO of 70% minus my wholesale fee of $5K = $65K. Is this accurate? If the property needed repairs, the home owners would require more equity. So what do you all recommend as a good percentage for equity?

I think that most of you would agree that most people will not qualify with the appropriate equity percentage. I’ve heard investors mention short sales as a possible solution. I understand this strategy a little but by know means would I be able to use this with a desperate seller. I’ve heard negotiating with the banks can be a longer sales cycle but what do you all think? Are their any short sale experts in the house???

I’ve discussed this with my local REIA and concluded that for a regular wholesale deal to work the seller needs 40% equity. If repairs are needed then the seller would need more. What do you all think?