It may seem like a smart *** answer but you're truly asking an impossible question.

I was wondering is that a good idea or just wait until the reverse mortgage company puts it on the market Impossible to know, you don't give us any numbers to work with.

 - nothing is impossible with some $.  

Even the ones who do respond typically want market value for their home which makes it nearly impossible to wholesale when you have a limited marketing budget.

I was looking at my long term plan the other day (which I drew up in 2013) and realized it is going to be an impossibility in the northern Virginia market because returns are so slim.I love Richmond and while I'm not crazy about long distance investing and property managers, I know there's a lot of potential in that market.Bottom line, I'm looking for stable, low vacancy SFH's in the $100-120k range, in up and coming areas, which rent for about 1%/month, and I plan on using a management company.

You've still got 2 weeks to get this together so it's certainly not impossible.

I have read that it is very difficult/near impossible to issue conventional mortgage at a 4.5-5% interest rate if you are incorporated, due to Fanny Mae & Freddie Mac restrictions. 

As far as cost to rehab its absolutely impossible to say.

After researching it seems close to impossible to finance a 1973 Mobile home that is sold with the land.

We are currently building a spec home in Mequon in the 600k range and I would have loved to build at a sub 500k or sub 400k price point, but the between the cost of land, labor and materials it turnes out to be impossible.