Was the requirement to have a co-signer discussed with you during the application process?  

A co-worker at the office told me to give the guy $30k, take the property and flip it.

Or have a co-signer or partner.

If your property is in that group you need to confirm that you will get a CO. 

Once you can't move towards your goal while being a CO then you leave.

If I approached this loan with a co-signer who has an impeccable credit score and hefty net worth, would I be granted an FHA loan?

Hi BP community,Never done a Co-wholesale.

Of course, you will also have to put the Seller on your property insurance policy as a co-payee to protect his interest in the property.I hope this helps you.Good Luck.Michael Lantrip 

I'm nervous about this because he is a co worker.

Maybe you can join a local chamber of commerce or perhaps it's as easy as just talking to a co-worker or relative who knows someone with a history of real estate investment.You'll need to research the right home and do the legwork when it comes to sprucing it up, but if you do the work your investor(s) will hopefully supply the money.