Wholesaling and taxes...

If you whole sale a property to another investor, and you make 5grand off a deal when you never own that property, is that straight taxable income as if you were self employed?

On the other side of the token, if you are the investor that buys the property, takes title under an entity, then sells it after a short rehab to an owner occupant, I take it you are not taxed as an individual here, but your entity is taxed?
Can anyone help me understand the different tax ideas on these two diffeent types of sales?

This is a very good question. I would like to know more insight on this is well. Can anyone help?

Yes, it is self-employment income

If the entity is a C-Corp, then the entity pays taxes in its own right. A partnership, an S-Corp, and a sole proprietorship, as well as the LLC treated as one of these are all flow-through entities. They do not pay taxes in their own right. Instead, income earned by the entity flows through to the partner/shareholder/individual personal tax return.