first possible wholesale !! please read and help

[Rito Altamirano]

ok guys so I've been reading tons on bp for months now and I decided I'm going the wholesale route until I build enough capital for full cash flips .  anyways I think I got my first lead however there's a bit of a situation and I need some guidance 

So first of all I'm in the las vegas market where apparently there is a shortage on properties for flips due to a"bubble" 

The property belongs to my wife's father here's what I know 

He bought the house for 70k he's owned it for 18 years out of a 30yr term I can't imagine he owes more than 45k on it after interest. I need to confirm numbers this week. 

He is 16 months back in his mortgage apparently owes near 10k , banks still haven't foreclosed on him or sent any notice . 

He has some hospital bills to pay and a few other things he doesn't have cash to pay what he owes and is eager to sell the house and get a smaller place . the house is in great condition could use about 7-10k in upgrades to modernize it ... 

Recent comps in the 5 mile radius sold for 120-145k 

I'd like to help him pay what he owes keep some extra money and add my fee on top . 

Is this a deal? Is there any possibility to help him and profit. .. Is this even the way it works? Lol I'm extremely new but no worries I haven't filed paperwork or anything  asking here first and if I get approval and some deal recommendations then we move toward thanks a ton guys!!