If an investor can get a low interest rate and free property management properties will cash flow.  

Side benefits or PM besides free time.

Can you be financially free, sure, consider if you are buying real estate you will no longer have stable income to get a loan.

I am partnering with with other people who want to invest in real estate and they have money but they don't have the time, experience, or knowledge of how to invest in real estate in a way that makes a lot of money quickly.

Investing in the market that you have knowledge of and the economic factors that support it is necessary. 

Talking to an appraiser early is a smart move—they can guide you on what improvements will add the most value.Don’t forget to fix any deferred maintenance and highlight unique features like tall ceilings or original hardwood floors.Let us know how it goes, and feel free to ask more questions—we’re here to help!

I would think their loan documents give them the right to control the property after the original owner dies - regardless of who is living there (although I have no direct knowledge of the laws where you live).There are details we don't know here... like if you want the house for sentimental reasons, or because you see the value between what it's worth on the market today and what the reverse mortgage company wants for it?  

I think I'll start out where I live and probably branch out outnof state once I build my knowledge and experience. 

& how you become financially free is by letting whoever your renting to (I'm guessing that was a step also?)

There is also a short and clear path to owning a rental property free and clear.