It's worth around $475,000.My mom and dad both live in this house, both ages are 76years old, in good health.I don't have the $150,000.But what I was thinking of doing, giving them $25,000, down and make their payment the Reverse Mortgage, is paying them.They will still live in this house till they pass.

it has been something that i have been interested in for a lot of years but had no idea how or where to start... my in-laws have done some deals in the passed and have encouraged me into taking the 1st steps....  

They added it to their by-pass trust in 1994.

While I am not a professional or even an investor, I have found that I only need the Lord's help and it will come to pass.

If you'd like to PM me the address of the house (again, I only buy in SW Ohio so I'm not competing against you), I'd be happy to look at the listing and pass along any other insight I can.

But we wouldn't pass up a good flip if the opportunity presented itself. 

If that were not the case if one party passes away that would terminate their title insurance and I don't think that happens. 

i found a small vacant Florida parcel with 7 years unpaid taxes that I want but owner passed away.

My three cents: a) First focus on passing the exam; once you passed your exam then brokers will be more inclined to speak with you, than if you are planning to take the exam [even if you do follow through with it]. b) If you will be generating most of your leads on your own AND you can prove to be a trustworthy "by-the-rule" agent, then you should be in a better position to negotiate with a broker, since they will not need to babysit you or cannibalize any of their own leads. 

Tax filing - absolutely easier to file an LLC tax return and then pass out K-1s when you've got more than two partners than having each partner take the P&L and balance sheet, figure the percentages, pass that out to each partner, then hope like hell that each partner uses their correct basis portion for depreciation, etc.