@Deep RonOne thing to remember when you are getting into RE investing is to have your team of people or as Brandon Turner from the Bigger Pockets Podcast calls it your CORE 41.

Do you have any interest in attending local RE meetups?

Typically you may need a RE attorney to draft this up. 

@Bryce Henson my understanding after dealing with reverse mortgages is that the reason it’s listed too high is likely there are rules in place for selling them, there’s a determination of list price from the lender,must be listed at that level for a certain time, then they’ll re-analyze and potentially drop it if it doesn’t sell in that time frame.

@Angel M.Please discuss this matter with your CPA, who will likely tell you this is self-defeating.Passive income from rentals is favorably taxed. 

I understand how important it is to have a team when starting in R/E so that's exactly what I am looking for!

But there are implications to that strategy so be sure to discuss your specific situation with qualified tax expert as this is not a tax advice and I’m not a tax expert. 

As I'm sure you know watch your expenses on this one closely to try to re-coop some of the unexpected costs associated with the furnace.

You’re better off, unless you have a background as an agent like myself, to have a RE salesperson rep you and transactional funding is key   Always check their criteria.

Would appreciate advice on whether or not I’m going in the right direction with  the business plan Iv created.Other topics I’d like to discuss… -Should I start an LLC before first purchase.