Existing techniques for fast, high-quality rendering of translucent materials often fix BSSRDF parameters at precomputation time. We present a novel method for accurate rendering and relighting of translucent materials that also enables real-time editing and manipulation of homogeneous diffuse BSSRDFs. We first apply PCA analysis on diffuse multiple scattering to derive a compact basis set, consisting of only twelve 1D functions. We discovered that this small basis set is accurate enough to approximate a general diffuse scattering profile. For each basis, we then precompute light transport data representing the translucent transfer from a set of local illumination samples to each rendered vertex. This local transfer model allows our system to integrate a variety of lighting models in a single framework, including environment lighting, local area lights, and point lights. To reduce the PRT data size, we compress both the illumination and spatial dimensions using efficient nonlinear wavelets. To edit material properties in real-time, a user-defined diffuse BSSRDF is dynamically projected onto our precomputed basis set, and is then multiplied with the translucent transfer information on the fly. Using our system, we demonstrate realistic, real-time translucent material editing and relighting effects under a variety of complex, dynamic lighting scenarios.