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?  

Before you invest, please feel free to contact me and I will be happy to furnish all of the documentation of this episode, but in the meantime don't trust anything that is not in writing and don't sign any document that allows them to stop paying the interest and/or principal that is owed for any reason.As I am currently preparing a report for the BBB, the CFPB and the FCC, I would also ask if anyone else has had a similar experience; I feel like David vs.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Improvements that DON’T drive the ARV as much: Windows, Landscaping, Driveway, Rough Plumbing & ElectricalI agree with @Jaron Walling about meeting the appraiser at the property and providing documentation.

I recall looking up their LLC in Florida, even though some documents mentioned California.If you’ve had any interactions with these people, please reply below and let us know your experience.

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

However, about eight days later, the seller informed me that they had "changed their mind" and no longer wanted to sell.In the weeks that followed, the seller failed to provide the required documents, including HOA disclosures, the seller’s disclosure, and other essential paperwork, all of which were due within specific timelines per the contract.

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

That's about what mine cost to set a living trust with the documents you mentioned.