The reverse mortgage company wants buyout and I dont have over 200k to pay out.

Namely, that if a tenant (in this case accompanied by a whole family) ends up stop paying rent and I would be on the hook for both covering the mortgage and dealing with open ended legal costs and time.

I was studying the market and my rent will be just enough to cover the mortgage and HOA fee now I might to pay out of pocket for insurance but don't want to sell it yet because the area is growing and might have good appreciation in the years that follow.

you're going to be INvesting for the first few years... rental income from the property isn't going to start paying back what you spend in closing costs, rent ready costs, stabilization costs, down payment, etc. for several years at a minimum.hope this helps - not trying to be negative, just realistic. 

So either you pay for the repair out of the idle cash in your account, file an insurance claim and use those funds, or rollover/transfer funds from another retirement account to cover the cost. 

Buyers don't look for financing and its foreign so they don't jump on a forsale listing on zillow.I've had the best (only) luck with zillow rental adds,   starting with the pitch;  rent to own, live in a great home while you pay off owning it. 

Billing is different for most and more than likely, you'll pay a retainer of some sort up front and have a balance due. 

Where do you expect to receive the money to buy out your "partners" in these companies as you drive returns into the ground? 

I would focus on the house hack and not take a pay cut.

I don't see them showing up or paying any of the back rent that's due to become current if they wanted to stay.