Additionally, I would like to attempt to do the process Owner/Builder with subcontracting work out as well as doing some of the work I'm comfortable with (I have some experience with bathroom & kitchen remodeling an am not new to the construction industry).

Account ClosedAdding your property manager as "additional insured" is standard practice and beneficial for you.

In addition, when you have leverage you have the other benefits which @Ali Boone mention.

This is where expert mortgage brokers come in, acting as your guide through the maze of real estate financing.

For the mortgage you are looking at, you will be buying the mortgage on which apx 80K is due for apx 14K.

The net rental income should be about 65% more than the mortgage. 

The main reason I ask is because that is significantly below primary residence mortgage rates let alone any investment loans, if you can get rates like that I might need to make some changes on my end hahahTo answer your original question, assuming all else is equal long-term fixed rate debt is valuable. 

The reverse mortgage company wants buyout and I dont have over 200k to pay out.

My goal is to leverage that equity for additional income.

@David DachteraThe only evidence given on behalf of your point is that additional mortgage payments in chunks reduce the actual loan duration and therefore the total paid interest.