Cabozantinib S-malate in Treating Patients With Metastatic Pheochromocytomas or Paragangliomas That Cannot Be Removed by Surgery

Inclusion Criteria: * Histological confirmation of pheochromocytoma (PH)/paraganglioma (PG) * Locally advanced or metastatic disease not amenable to surgery * Patients enrolled in the main branch should have measurable disease; patients with a predominance of bone disease who have small, non-measurable or small measurable lesions other than bone, may be included per the principal investigator's discretion, in the exploratory branch of the study for patients with bone metastases only * Progressive disease per Response Evaluation Criteria in Solid Tumors (RECIST) 1.1 as determined by the investigator within the 12 months preceding study enrollment * Assessment of all known disease sites, e.g., by CT scan, MRI, bone scan as appropriate, and/or FDG-PET scan within 28 days before the first dose of cabozantinib * Eastern Cooperative Oncology Group (ECOG) performance status =\< 2 * Life expectancy of at least 3 months * Absolute neutrophil count (ANC) \>= 1500/mm\^3 without colony stimulating factor support (within 4 days prior to the first dose of cabozantinib) * Platelets \>= 100,000/mm\^3 (within 4 days prior to the first dose of cabozantinib) * Hemoglobin \>= 9 g/dL (within 4 days prior to the first dose of cabozantinib) * Bilirubin =\< 1.5 x the upper limit of normal (ULN) (for subjects with known Gilbert's disease, bilirubin =\< 3.0 mg/dL) (within 4 days prior to the first dose of cabozantinib) * Serum albumin \>= 2.8 g/dl (within 4 days prior to the first dose of cabozantini…