Best way to help aging parents (reverse mortgage, etc)

[Kenneth LaVoie]

My wife's parents (mid to late 70's, one terminally ill with COPD), have just sold their place in Florida and are going to need to find a place here in Central Maine. They've always lived in mobile homes, so it would be a lower end purchase, maybe 100K or less. We'd like to help if we can. We were thinking that if they paid cash, we could work out a reverse mortgage for maybe 60% of the value. This way, no payments for rest of life, they can do a little more, spend a little more, etc. We are financially self sufficient, so when they passed on, if there was any liquidity in the estate we would forego anything above our payback and split the estate between the two remaining siblings. 

However, is there any other way that would help them and help us tax wise, etc. The way I see it we have 3 choices. 

1. Buy it for them and sell it to them using rent to own

2. Buy it for them and sell it to them using seller financing

3. They buy it and we provide a reverse mortgage (private)

I'm probably missing something simple here and I really have only begun to think on this...