How did things work out? 

We have encountered companies which will not underwrite knob-and-tube or aluminium wiring {which can be perfectly safe}, but never one that refused paper/fabric-covered wiring.What does your insurer classify as "fabric/cloth covered wiring" {I cannot really see the pictures closely enough).  

I have 12+ years in construction and management which makes building new homes much easier for me, as I can plan everything prior to construction and work out any major issues before construction begins.

I am a new to ROI and had of couple deals that didn't work out.

Find motivated sellers who will sell at a deep discount that will pay for any extended time that your offer considers or offer a small profit split with them.This idea may work out and I would like to hear more as you progress.  

We don't hear all of the sleepless nights staring at the ceiling when your money is held up in a deal and you aren't sure how it is going to work out.  

I think focusing on that initially is a good way to cover yourself in economic downturn, by being very picky. 2)  Personally I would also think of other locations where the economics of the area are such that this model could work out great, and determine if you have any contact(s) there with a strong RE network? 

The first broker I tried to work under was so unfamiliar with wholesaling, and wanted to treat the whole thing as real estate commission, that it just wasn't going to work out.

This means that you two work out a deal where you pay your monthly mortgage directly to the owner.

But using DealCheck helps me get our dream numbers to work out and see how it well the equity, cash flow, ROI, net income would go for 5,10,15, etc.