He just wants to sell the house and use to $ to help his father with health issues, so he's willing to sell for under market value.

That is true for maybe 1 percent or less of the wholesalers who try it.When you are new and you ask for a wholesale mentor online, you are going to get every pitch, course, guru sell that there is.

Nothing these guys sell is anything you can't easily figure out on your own.

@Paul Bogard going to assume you are buying this proeprty to live in while you "house hack".First, you should understand +95% of real estate agents ONLY know how to sell owner-occupied properties and are almost useless for investors:(Find an agent that has rental properties themself or can PROVE they've got successful repeat investor clients.Secondly, you can greatly improve your cashflow by renting out your other bedrooms.

If you were going to rehab and sell, you could just bring on a money partner and split the profits and manage the work.

So, he could sell his home and put 100% it into the new home.

If you have people cutting you large six digit and 7 digit checks, I keep my ears open to hear what they are saying.

So just to clarify- I can deduct the cash investment I put into this flip as COGS when I go to sell the property if it takes more than 1 year to flip? 

If you were going to sell or do a cash out refi then maybe. 

And maybe in 20 years when the property sells it could be taxed differently, but not sure since it was initially a primary home.