Any interest only or 40 year loans left?

[Rich Thomas]

Background: Wife inherited a 4-plex from her mom.  Approximate value: $500K  with an $135K interest only loan.  The 4-plex is a cash cow and she has no intent to pay it off.  

1)  Should she keep the existing loan even though it's in her mom's name?
2)  If so, what are the implications of that in terms of insurance, IRS taxes, etc?
3)  If not, are there any interest only or 40 year adjustable loans available?