@Jon D. some questions, the answers may help you better focus.1) Why did you pay your primary mortgage off in the first place?

Remember, in this model, you are planning on holding on to these properties as rentals so pay now in quality, or pay later in headaches and repair costs.

The reverse mortgage company wants buyout and I dont have over 200k to pay out.

After all, you have no evidence they agreed to pay rent or any of the other terms.

I’m not sure where to go from here or what, if any recourse can be made to recoup my money.My take is you get what you pay for & low interest is not worth the crap we had to ho thru and in the end, they didn’t come thru but will brag how they close hundreds of deals a month.well, they didn’t close this one!

You’d need to check the local laws to see what counts.Tenant Violations: If they’re breaking lease terms—like not paying rent or subletting—you might have grounds to evict.

And I would love some passive income or at least someone to pay my mortgage until we can pay it off maybe.

I was wondering if it is worth paying for BP pro membership for the special discount with Home Depot (e.g. flooring, appliances, etc). 

Step 2- close and start rehab-- would need to pay holding cost during rehab?

Section 8 refers to a voucher that some people use to pay for their housing.