But the cash value will take much longer to accumulate.There are very legitimate reasons to use either end of the spectrum and anything in between.Now, practically speaking, an agent does get paid differently based on which side of the spectrum the policy design falls on.

@Trent Roberts it’s good practice to have a LLC prior to acquiring the renal property.

Kudos to you though for practicing and cultivating the skill of wholesaling though. 

Is this practice ethical or unethical?

If you can't find a middle ground where you're both get what you need, you walk away...no need to rant or "blame" the seller.Okay, that's enough philosophy...now for the practical:-  It sounds like you weren't clear with the seller that you'd be wholesaling the deal (maybe you thought you were, but it doesn't sound like he "got it"). 

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

On your other questions, I think the best way to learn to run numbers is keep practicing.  

With that said,  I am hoping someone could shed some light to wether or not it is just best practice to stay in safer areas.  

There are more major pieces to this puzzle that the wealthy use that so many that give up at this step never see.Related: One Simple Habit the Vast Majority of Wealthy People Practice Every Single DayHow to Use Taxes to Your BenefitLet me jump back to the taxes, specifically depreciation.

And for the most part, I've followed his request.Here's the verbiage in my lease:"ACCESS TO PREMISES:The Owner reserves the right to enter the residence at reasonable times to inspect, make necessaryrepairs, supply services, or show it to prospective residents, purchasers, workmen, or contractors.Whenever practicable, a two-day notice of the Owner’s intent to enter shall be given to the Resident."