We will add value as we always do make the home extremely beautiful again through rehab.

I know a few extremely wealthy people employing this same strategy here in Boulder and they are crushing it despite buying properties that don't even come close to meeting the 1% rule. 

In my experience, some wholesalers are extremely aggressive on ARV and rehab costs, so I would make sure you do your own due diligence.Secondly, you can get some great deals from wholesalers, but typically they will want cash buyers. 

I have been making cold calls for about 6 months, I have gotten promising leads but still haven’t finalized a deal.

Some people will say that that is an extremely expensive way to learn.

It can get very cold here in the winter so a wood burning fireplace can save some money on a monthly gas bill.

I think the most important thing to do to make sure you are ready to act quickly when a good deal arises is to be extremely confident in your numbers.

I am extremely excited for him if it all works out (and especially excited to come visit him, as often as I can!)

You are taking on a property that is extremely aged and will constantly need your attention.  

These might make sense for someone to whom the death benefit is extremely important but may not be insurable (and otherwise wouldn’t qualify for life insurance, for example).Many death benefits increase at a particular interest rate (usually the contract’s guaranteed minimum interest rate) until a certain age (often 70) and then the “enhanced” part of the death benefit goes away.