I am currently starting out getting involved in the real estate world. I am seeking funding and one option I have is I currently live in a reversed-mortgaged family members home. I plan to purchase the home from them,...

I also make sure to run my numbers carefully and then revise as I learn and adapt.  

You can hold title as: Joint tenants, Tenants in Common, Tenants in Business Partnership or as Community Property with the Rights of Survivorship.I am not sure about easier qualification for loans dependent upon the method of holding title. 

I was unaware such methods exist to reclaim a foreclosed property in general.

It happens all the time, so there's a steady stream of opportunities independent of general market conditions You can take a very methodical approach to Value Investing, where you regularly invest a particular amount (or just spread a large sum over many months) in a small number of pre-screened stocks, with the goal of holding for 1-2 years and selling at a profit, using the proceeds to repeat the process.

Using the assignment method requires you to pay two realty transfer tax.

The shotgun method of getting 50 houses under contract just seemed like a great way to lose money, but I haven't tried it, so I don't have the authority to judge. 

@Gary Dale McKee is there a reason why you want to use "creative" financing over the tried and true methods?  

I paid for results , not methods 

Greater to understand about their rent placing and series method how they will obtain from the tenant and handover for your requirements the rent amount.