I am assuming he is not capable. 

I realize that this strategy is not for everyone but I think everyone needs to assess their own strategies and capabilities before simply saying something is or is not a viable option.Here are the before and after pictures exterior pictures:BEFORE:As you can see the exterior definitely needed a good bit of work.

I recently did the same and have been enjoying the added capabilities of PRO.I'm also a new investor on the Northshore looking for buy and hold properties between Slidell and Hammond. 

There's a reason wholesalers get a bad reputation - and it's not because they are making a profit without having skin in the game or don't have a license - it's usually because they move crappy deals, or they hang their clients out to dry when the deal goes bad, or they sell to people who really shouldn't be getting involved in the deal because they are not capable of handling the deal.Also - there's not one single definition of what "wholesaling" is.  

Are you capable of putting together a good business plan for the property and carrying out the business plan?

I love the long term wealth building potential that can be found in rentals when done in a smart way.I have learned a ton about deal analysis and so I feel capable of analyzing deals, but I was really curious what some of the more experienced investors are using as their thresholds to sepearate the "good" deals from the "run of the mill" deals.

Now, after typing this out, I've come to another option...leave the boiler in place, add in the electric heat capability/metering, and just keep the boiler chugging along at ~50 degrees year-round to ensure the structure is always "thawed".

And if you're doing a fixed price contract, you need to verify the contractor is financially capable of delivering. 

—That’s what I'm thinking, just get out there and see what I’m capable of doing!

Yona Weiss is extremely knowledgeable in cost segregation and would be more than capable of helping you with any questions you might have.