Reverse Mortgage - Pull Out Money

[Frida McKenzie]

My Dad is 75. He lives in a home with a reverse mortgage. His home is valued at $300,000 and the payout on the reverse mortgage is $120,000.  I would like to pull some of the equity, give him some money, make some updates and start generating some income maybe with Airbnb or rental. Can this happen, or can someone point me in the right direction to find out if and how to do this? TIA for your help.