Quote from @Henry Jay: Hello, me to real estate and look for knowledge in flipping and rental properties. 

Super knowledgeable and takes integrity and his Christian faith into all the deals he does.

Focusing on building knowledge, credit, and some capital is key.

My friend @Miller McSwain has a ton of knowledge on Co-Living if you want to check out his stuff on how it works in CO

The appraiser didn’t seem knowledgeable about multi-family properties.

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?  

His knowledge and expertise is great .

Localized knowledge for an agent or investor is needed to answer most of these questions.

It seems like the perfect place, BiggerPockets, for finding people who are like-minded, asking them questions, and learning how to become a future investor.I believe that no matter how unforgiving the market may seem, the right tools, knowledge, and preparation can help minimize risk and create opportunities.

Assign it to a collection agency on a contingency basis.