What would be my best approach, I assume find a private lender and work out some deal with them.All questions and answers will help thank you.Normally the lender for the reverse mortgage will start a foreclosure.

With this being your first purchase, you may want to consider a property that's not being sold at auction. 

He showed me what I needed to do step by step, of course this came with a fee.  

You might be surprised, but your rental properties have more in common with dividend-paying stocks than you think!

Understand this.

This is a great place to learn and to connect with people so take advantage of all the great resources.

Make sure the lender you choose has a strong background in this type of lending...check them out on Linked In to see their experience level.

I hope this helps, thank you.

It was a cash purchase.How did you finance this deal?

You will want to fully understand the tax reporting burden you will face.