This deal, i used my first successful buy and hold property and pulled a HELOC to secure financing and reserves.

We buy at a discount and pledge our legal right to collect the debt (a collateral assignment agreement) as the collateral for the private capital loan we take out, which is backed by the value of the real estate securing the 1st loan.  

If a single-family owner-occupied property is worth $400,000 - I wouldn't invest more than $280,000 (70%) in a note secured by the property.ITV takes priority over desired yield - so even if the note discounts to $350,000 based on desired yield, the investor still won't go beyond their maximum ITV. 

I don't know where you live, but it is likely that the reverse mortgage company (or whomever owns it) will file for eviction so that they can recoup the money they invested in the deal.  

I understand this is a good way to become financially secure over time and am eager to start.  

This includes preparing the property for renters, pricing it right, marketing, application screening, collecting rent, dealing with unpaid rent and other lease violations, security deposit disposition, inspections, and so much more.

No offense to realtors but how a property is set up or length of time it has been rented for has no bearing on the legality of the property records on file if they differ.

They've been very underhanded and petty though, I do expect a court filing if we simply ignore.

As I understand, landlords there cannot charge application fees, security deposits and evictions are VERY challenging.Have communicated with several PMCs and investors in Ohio market and not aware of any real differences from Michigan. 

If it is, explain your situation and ask to file a complaint.