I can alternately do the screening/checking but I need someone local to do the rest as I am out of town.

Alternatively you could mail it to them and pay the small charge to have a confirmation number that they have received it return to you.

As another alternative, you could sell the house, take your $500,000 excluded capital gains as your primary residence, pay your capital gains taxes (both federal and state), and buy your new property utilizing a small purchase loan or even reverse purchase mortgage to make up the difference? 

As an alternative, I am thinking about purchasing a 2 bedroom condo or similarly sized property, and splitting the cost between my girlfriend and a roommate.Should I continue renting with a roomate or should I puchase a property and rent out a room? 

Alternately, he could use it for a vacation on the Riviera, leaving you to foreclose and pray someone pays more than you are owed at the public auction.If your borrower did not buy insurance then, well, you're both screwed.Lot's of ifs, Raj. 

An alternative to consider at least for a small investor.

We feel that getting into real estate investing is a good alternative that will likely set us up for our dream home in retirement.

You can get alternative financing to take the property down. 

In searching for alternatives to a dehumidifier I've found some of the below solutions... 

If the property is actually no longer serviing the life estate, then the attorney will help with title transfer to the alternate beneficiaries (heirs).