Spinoff on Reverse Mortgage

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What would be a fair assessment on both ends for me to pay them an amount until they pass awa

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It would start with a valuation of the property.

When they die, do you want the house, or the money back?

The proper documentation could be drawn up that when the last one dies, the loan is called, and you acting as the lender take possession of the property in satisfaction of the note.

What I don't know, and where I reccoemend that you speak with an estate planning attorney, is to ensure that you can do this, since you will also have an interest in the estate. I don't know if there are any self-dealing rules to worry about or not. Also, if there will be other heirs, this is probably a conversation you want to have with them at the outset.