The due diligence is critical since it is on you and not the bank. 

Before we finalize it, I was hoping to find someone that wouldn't mind reading over it and giving us some feedback with a critical eye.

I've heard people are critical of reverse morts as being semi-predatory lending, although legal.  

Properly vetting the partner would be very critical as you don't want to get into a deal with someone who has a bad track record.

Yet another critical OM piece is sensitivity analysis: the exit is underwritten to a range of cap rates, rent growth is projected using a range instead of a single number. 

I am ready for the constructive criticism so let it rip!

Most banks when it comes to commercial deals, look at it in too critically and may make someone like you jumping to the CRE clear too many hurdles, if not persistent enough, some quit.  

It is critical to make sure the screws do not pop through the drywall paper, and they will want to do that, so I have to sometimes leave them a bit out instead of recessed.

George -Understanding the P&L by each line of business will be critical.

Just reinforce to the seller the reasons why they should work with you:* You'll buy as-is, no work needed whatsoever* Close in weeks (versus mths with financing)* Close in cash, no buyer financing issues to kill the deal* No commissions to some buyers agent* No more dealing with strangers tromping through the house and criticizing stuff* Unlike a typical buyer, won't hit you up doing repairs following the inspection