Since mortgage insurance isn't included, they can usually qualify for $30,000 to $60,000 more than they would if we are just going with a no money down or a 3 to 3.5% loan.  

If you want to hit financial independence, you're going to need to make real money and live off of very little for a long time.

I'm actually just getting started with investing.

However, HUD will allow for a reduction in the offer if a problem that's unknown now crops up after the offer has been accepted - I know several people (including my mother) that got some money off their HUD deal.

@Allan Kapoor, when I bought my first property my defining mental moment is when I decided that I didn't care if I lost money!

What percent of GPs making capital calls will actually manage to minimize losses vs GPs that end up loosing all that money too for the LPs? 

@J Scott, how do you break down your COGS accounts so that you know what you spent money on?

Money management?

This is going to sound absurd, James but you may actually be spending too much time on your property. 

I wouldn’t worry about the lender, since the reverse mortgage is an fha insured mortgage they are guaranteed their money.