Claim: Nick Nolte acts professionally.

For the television series based on the film , see Down and Out in Beverly Hills -LRB- TV series -RRB-   Down and Out in Beverly Hills is a 1986 American comedy film based on the French play Boudu sauvé des eaux , which had previously been adapted on film in 1932 by Jean Renoir . Down and Out in Beverly Hills was directed by Paul Mazursky , and starred Nick Nolte , Bette Midler and Richard Dreyfuss . The film is about a rich but dysfunctional couple who save the life of a suicidal homeless man . Musician Little Richard also makes an appearance , and contributed the song `` Great Gosh a ` Mighty '' to the soundtrack .   Released by Touchstone Films , a film label of The Walt Disney Studios , Down and Out in Beverly Hills has the distinction of being the first R-rated film ever released by Disney .