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?  

We don’t know any PMCs to recommend in the Cape Coral/fort Meyers area, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

This smells like a scam.

Bruce - thanks for sharing this info.

I would encourage you to read this beginners guide from BiggerPockets, it's a good bit of information so pick and choose what you want to read or read it all.

@Chris Seveney - Chris I know you know this, but sharing this for a lot of less experienced investors out there. 

That's less than half the price you were quoted.In this case, I think it would be worth moving grandma out and selling the trailer for $3,000.

Hope this helps. 

And most regret it.I'll make the opposite case: it is VERY hard to screw up when buying i.e. a duplex in good condition in a desirable neighborhood and either self-manages or hire a quality PM to manage.To any new investor who is reading this: In real estate cost and risk have an inverse relationship.

Hi All,  I've had several rolled roofs installed and never saw anything like this.