Are you perhaps confusing tax assessments with appriasals?

I just got confused when you stated that he could use a conventional loan with only 5% DP?

I was confused by your question at first too because the "delivery date" is an odd way to phrase it.

It seems like there is a lot of confusion on where to get the contracts, but I'm not even certain what all forms I even need, contract to purchase, assignment of contract, etc...?

I thought that this was something that happened during the whole closing process , without the seller having to do much but sign a few papers. .. but apparently I am confused.

You are likely confusing owner's equity in a company with title in real property.

Confusing.

@Michael Dunn You are confusing FHA financing guidelines for someone Purchasing a flip, as opposed to resale restrictions(typically on FNMA) which limit the price you can Resell a REO for, and imposed by the seller(bank) of that property.  

Since I do have a contract with the seller, the End-Buyer would have to close with Wholesaler $2, and then Wholesaler #2, would close with me (Wholesaler #1) and I in turn close with the Seller.Writing this out, it sounds confusing, and I don't know if a title company will do this.

@Paul Danieli brings up a good point @Samori Diallo and I hope I didn't confuse you there.