Can anyone help me, please!

[Mike Briggs]

I'm looking to wholesale a property in 38115 zip code. Problem is, homeowner owes 108k. My numbers could be a bit off but it's worth about 155k. Home needs cosmetic repairs but is otherwise in great shape. Other homes in the area are selling at around $65 per square ft. With the margins being so thin I'm thinking a wholesale to another investor is out the question. Would it be possible to just wholesale it with a lease option or just "whole-tail" it, meaning I'd put it under contract and just market it to a buyer looking to live there? The home will almost certainly qualify for a mortgage but with me being a newbie I'm not sure if you can qualify for a mortgage on a home with an existing mortgage. Any feedback welcomed...thanks