That might even be enough to make it hard to be hired by a traveling nurse agency.BTW, I am not a lawyer that can give legal advice.

Quote from @Sarah Ali: The seller has a contract with the agent, which means they can't legally sell the property without compensating the agent.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

Also be sure your PM is documenting everything if you already started demo and rehab.

Note that legal and transfer costs are not deductible but can be added to your cost basis.

Ambulance chasing attorneys know their way around and can legally navigate around Insurance Policies.

Legal RequirementsIndiana landlord-tenant laws are generally landlord-friendly but require you to be diligent.

Once pre-approved, gather your financial documents like pay stubs, tax returns, and bank statements.

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?  

But, this being a larger syndicator they do have professionally made presentations and due diligence documents for you to look through.