Was owned by a sweet old lady.

The lady that is doing the title work for the man wanting to buy the house has found this lien from 1997.

Sounds like the lady at the city let the cat out of the bag and now I need to lock er down but I don't want to get too wrapped up into getting it at all costs. 

For example, my lady and I tried the to install the kitchen back-splash, great bonding experience but, not hardly our strong suit.It wasn't until I heard one particular podcast when the rhetorical question was posed, "where am I most valuable, in my business or making money for my business."

I know a lady in my neighborhood, she getsnearly $75K in alimony plus had alot in settlement.

Generally the loan is in full effect along as she lives in the house. once she moves from the house the Reverse mortgage is called. if the Lady, family and or estate can not settle the loan then the lender will foreclose.Unless your down payment is enough to settle the debt, and you verify that happens I would not enter any agreement on that property. you would risk any principle you put into the venture

tried similar deal, 3 unit, but ladys lawyer scared her away.get yourself a knowledgeable lawyer first, have your lawyer review deal and write up a contract in your state . irs may require minimum % rate when lending...what her lawyer said 

In some court cases the deals have been found to be illegal.As an investor it is almost always a bad idea to rent back to the person who sold the house because they could not afford it.This lady is likely to not be able to buy the house back for the higher price if she could not get a loan to refinance before.A slow burn nightmare for her and potentially a legal nightmare for the lender.

I don't know if First American Title Co has an issue with me flipping the property, but it doesn't sound like this lady really knows either.

Last I hear the lady plans on living there forever.