When I tried to get it when my side of the family found out and tried tp take over reverse mortgage payments to bank because she had died it was to late so they sold the house to Hud and then other reverse mortgage companies but a relative still lives there so they can't kick them out.

If your loan is $110K then the payment on the 15 year would be $927/month at 6.15%; 30 year option at 6.625% would be $690.

There is 3-5% down payment options you can use.

You only need a place to track tenant information, payment history, maintenance, etc.

do not use a line of credit for a down payment. 

I have two questions regarding mortgage interest tax deductions.First, last year, I purchased a HUD property at a significant discount and used a $70,000 HELOC from my primary residence for the down payment.

I tried to look up properties that I could buy using my $6,000 bonus as a down payment but I was living in Los Angeles and couldn’t even buy a shack.

Your son is responsible for making payments on time or ruining this seller's credit. 

That means that my payments are what they would be on a 30 year loan.

If you have a good FICO, a decent down payment and closing costs, go ahead an do the first one.