They had to call the fire department to the house because his "grandfather" had a medical emergency a couple months ago and passed away.  

If you can't afford to lose in any business transaction, it might be best you not get into that transaction.

From the Arizona Department of Real Estates website:Is a property owner required to hold a real estate license to manage the owner’s property?

Any advice on how I should go about starting these transactions and how to finance etc?

I would contact a settlement company to handle the transaction.

Retail value 140.I understand that tenant could not buy it right away for 140 because mortgage companies would not finance based on 140 because property recently transacted at 100...

If they bring me a lead that ends up being a deal, can they get a commission off the wholesale transaction?  

@Brian Gibbons  us developer builder types go to the planning department and get a copy of their zoning and lot map.. shows every lot in the city and what its zone.we then stick it on the wall.. and start to identify our targets.. it gives big picture and little picture I am a map nut when it comes to visuals. 

I get it with the intention of getting involved with real transactions, learn some insights of RE, and hopping to find one or more investors to collaborate with.

Hi Friends,Having done almost every type of transaction in real estate for over 20 years, I'm going to be a great resource for connecting, assembling, sourcing, investing and funding deals.