The competition is so fierce that it drives the interest rates too low.

I don't know anyone in the area, but I would recommend calling the local REIA's president. 

You still have to tangibly sell the asset.

First, the only reason why you would offer more than a property is worth, is if you are focused on the property, and not the deal. 

These types of policies are structured the opposite of a typical policy where the goal is the large death benefit amount. 

Not just “do I have the time” but also the temperament and skill set.

Thanks for sharing, saw some of the webinar from the wallstreetoasis link.Curious how they communciated this to the original investors, cause them seemed to infur on the webinar that the 18% is such a great deal and better then what we would have offered the original investors.

The main difference is that you don't borrow "money ", but instead buy the property from the lender over 360 payments, and the price of the property is marked up - this is the "profit" they charge.

About a month ago, the plumber said the repair would need to go through insurance.

The bank will value the asset as-is - that be, the current rent roll and performance of the property.