They are essentially giving the property to you at fair market price, so someone is going to need to pay taxes on that fair market price.

That means paying all cash isn’t an option unless you plan to bring another $600k to the table. . 

One would also pay 10% ish fee to convert foreign currency to USD.

If you want to keep it, then would you refinance that new build to pay back the HELOC? 

Quote from @Josh Otero: Hi BP community, I know you've got some crazy tenant stories and I want to hear it.I'll go first:1) I was managing a 5 story apartment building and a dog fell off the 4th floor balcony because of the owner not paying attention.

You won’t get the metrics like the pay down or the returns on the second note this way but you can get the accurate cash flow.

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

So I was paying under the market rent to live in the property, then moved out and rented my unit and it’s cash flow positive.

Your first year will be a learning experience, you will want to be close to the action, as you may not have the capital to pay someone to handle everything.

Also, don't forget that, if you pay taxes, it means you're making a profit.2.