how to make or any ideas for this potential wholesale deal

[Abimael Rodriguez]

Hello BP. Ill try to keep it short and clear. ok, about a week ago, while working and talking In the conversation my coworker mentioned his parents have a property that was not selling(2B/1B) but were getting close to selling the house to a buyer. Today he told me that their buyer backed off. Its been their 3rd or 4th try and have not been able to sell. i told him that i might be interested or i can find you a buyer. My coworker said his parents might be willing to 'owner finance' if there is no other option. Later on, i called an uncle of mine if he was interested in buying a house. My uncle has been wanting to buy for the longest but has no papers(immigrant), low credit score(633), but has steady good business and has cash for a down payment. In other words he doesn't qualify for a loan. So he said " yes, tell him i'm interested, or give me his number so i can call him or whatever, but tell him i am". Both parties might be interested to make a deal by tomorrow. I am the middle man at the moment. If not, i want to know if this is a potential wholesale deal and what to do. I am a beginner in REI. Never done a wholesale. but i know the very basic.

Description of the property

1- it belongs to his parents and they are distress sellers just trying to sell

2- 63 days on market

3- Price- 159k, condo/townhome(HOA), 2b-1b, built-1964, 908 sq ft, 1305 sq ft lot

4-  prices for similar property go from around 125k-145k

5- about 40k in remodel

6- they bought it in 2015 for 71k

I imagine its a 'b class' neighborhood. The house doesn't look beat up or anything, just the kitchen cabinets looks kinda old(looking at the pics). But i think its over price. They been trying to sell since 2016 for the same price and drop down all the way to 135k and still didn't sell. Then, it was put back on the market for 159k again in June. Is this a potential Wholesale deal? Should i offer even lower and try to flip it?  Should i become the middle man between my uncle and seller and get something out of it? Should i buy and Owner finance my self for a similar price( after offering low and getting the property)? Need some help. Any advice, tips or inputs are welcome. Thanks everyone in advance.

[Amanda G.]

Generally it is considered not a good idea to rent to relatives. Talk to your uncle, what level of payment can he afford? talk to the sellers, about terms. See if you can put a deal together for a finders fee. If the property is listed, then the current agent will need to be paid their commission. Is there anyone local you can lean on for advice? Your local real estate investment group might have good people to answer questions as they come up.