no idea what I'm doing...$300k equity

[Rich Schroeder]

I'm not a wholesaler, never wanted to be one. Then a property has kind of fallen into my lap. Here's the specs...

5 BR 5BA home
1.75 acres wooded lot
right down the street from me
market value after $10k repair is $500k

The guy has screwed up his credit, and cannot refinance. Found out that he only owes $22k on the home! He is facing foreclosure soon. If I can get it for $150-200k (which is what he will take for it), should I wholesale it to someone and try to do a double closing (if that's even the right terminology for wholesaling)?

I know this is a good opportunity, but not sure what to do with it.HELP PLEASE!!
Thanks
-Rich